I doubt very much. How much CFM does it need? I'd guess i's probably less than 60 watts. Hot water heaters normally only run a few hours a day total even in a larger household.
I've thought about these myself just to get my HWT flue out of my masonry chimney, but the payback is pretty long even with rebates form the gas utlity.
Plus you get cold showers if you lose power. I'd rather have a standard efficiency direct vent without an inducer... but those are pretty pricey too.