The Sailing Eureka is NOT worth settling on the coast right now. Settling on the coast, in the best case scenario, guarantees you at least 3 tiles of water, which is very very bad currently in terms of yields. The only district you can build on it is the harbor, which doesn't help with the general poor yield, and can be done even if you only have 1 tile of water. The other added benefits are the tiles on which to build aquatic wonders, but those are too conditional to be advisable when deciding on the right tile to settle, especially since land tiles are just so much more versatile. Water resources aren't that valuable either.
This is all without mentioning the vulnerability to melee naval attacks.
Return the water tile yield bonus from lighthouses and seaports, and then it will be worthwhile. Also, if crabs become luxuries again, it will help increase the value of coastal settlements in general.