I checked and yes. It's very eff'd up.
Yup. You can build your way to health. Convoys are 60 each, don't cost Maint and don't count against the Unit Supply limits. So that's 120p per Health Point.
Compare, though:
Gene Gardens are 200p for 3H
Optical Surgery are 370p for 4H, +1H/Silica
Soma Distilleries are 400p for +4H, +10%.
Those are each in the roughly 75p/Health cost range. Plus, to get this Virtue, you took +10% & +25% for buildings, so the real cost per point of health is closer to 50p/health.
The Resurrection Device, at +8H for 1350p, looks to be substantially worse, at over 150p/health, but +15% Wonders, and then Crawler or PAC's bonus will get this down closer to 100p/health, still cheaper than trade units.
To be sure, the Trade Unit health is global health, but it is still reallllly expensive. The only cost reduction is in "Liquidity" for a 20% discount on energy prices. Which is something, but you're still paying over 400E per health.
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ETA: Question: does the Repair Bay affect Convoy prices? That might save another 10% "Land Units" is the important language. The other unit discounts all say "Military" units.