Yes, if you're only concerned with water heating. However, an instantaneous made for boiler duty also is a good inexpensive way to get a variable input burner to heat the house as needed without the extra $3000 for a large boiler that hasn't a comparison with an instantaneous for less off-cycle heat waste.
You can use an instantaneous/boiler for radiant slab because there is mass in the floor, or in a single-zone heating application with all the radiation open to get rid of the heat the boiler makes; but with many zones on an instantaneous -it is SIZZLE and BANG time as the closed zones cut off the places heat leaves.
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