Whether or not it is a problem, it has a significant impact (on the appropriate type of maps.)
In the two games I have played (archipelego, giant maps, extra coasts, normal reefs, one with low sea level and the other with medium sea level) there are many situations where one can use reefs to explore places that are on the other side of an ocean.
I could contact almost all or all the other civilizations with galleys (and a lot of patience.)
Granted, I could only trade with about half of them, but still that is a big difference.
One could trade technologies with almost everyone.
In theory one could colonize over the oceans and even conduct war.
(Although on a giant map that is impractical that early.)
This is not a terrible situation, but I think it could be better.
There is just too much connectivity early on for what purports to be a map of the globe.
Ideally, one would find a clever way to not allow reefs plus ocean travel until ocean travel is allowed.
If this can not be done directly, perhaps one could only allow somewhat later ships, Cogs, Galleas, etc. to travel on reefs.
In any case, I think it deserves some serious thought.
P.S. This is one of the reasons I think that the basic setting produces too many reefs. There were many reefs 1000 miles or more long.
Also the 3 coasts was too common for my taste.
As I have said, I think 1/2 @1, 1/3 @2, and 1/6 @3 would work better.
That wasn't intentional but I can't easily change that behaviour. Such ships can only be set to go through all reefs or none, no matter the underlying terrain type. At first impression I don't think its much of a problem to leave it as is.