Saying that the Feitoria is better than the Dike honestly does not make any sense at all.
Feitoria gives the Portuguese +1 commerce to every sea tile right? However, the Dutch already have that bonus from the start of the game because of their trait. In order to match the Dutch sea economy, though, the Portuguese actually need to invest hammers into Feitoria's which should be considered expensive considering that most Seafaring maps are short on hammers.
The Dike gives +1 hammer to each water tile, though. Since seafaring maps are short on hammers, this bonus is much more appreciated than simply +1 commerce.
And to anyone arguing over how late the Dike comes - Feitoria and the Dike come at around the same time, Economics and Steam Power are pretty close on the tech line.
Lastly, the Carrack is not as effective at taking over other landmasses due to it's small carrying space. 2 spaces only allow for either a settler and a worker, settler and a military unit, or two military units. You would have to build a considerable navy to be able to plant a city, let alone several cities, that can defend itself and work the tiles around it. East Indiaman doesn't have this problem, and can easily carry a settler, a worker, and two military units. This is especially painful when one realizes that the Carrack costs 60 hammers, while an East Indiaman costs only 80. 2 Carracks (equal carrying space) costs 40 more hammers than an East Indiaman, something that is especially important on seafaring maps due to the aforementioned lack of hammer wealthy tiles.