That is about as succinct a summary as possible. A couple of other factors are weight, floatation, and cost. Weight can become a big issue if you need to load a kayak on top of a car. SOT boats tend to weight substantially more than SINK boats. That extra 10 or 20 pounds might make it impossible or just unpleasant to load a SOT. Kayaks are much less fun if you leave them at home. SOT boats have a trapped bubble of air between the deck and the hull so they will not sink. Touring or sea kayaks have sealed compartments (always in the stern but better ones have at least a second in the bow) – you can tell by the hatches. These compartments in addition to providing dry storage keep the boat afloat even if it is full of water. This is not the case with recreational kayaks. If the worse happens and you fill your rec boat with water it will sink. This not only costs you the boat but every year it costs several folks their lives. It is no surprise that weight and cost are tradeoffs. Inexpensive boats tend to be rotomolded out of fairly soft plastic and are very heavy (they also tend to be indestructible). Thermoform boats are of a harder plastic, substantially lighter and (surprise) cost more. Composite boats of fiberglass, Kevlar, or carbon fiber are the lightest and most expensive – they also tends to be the faster higher performance boats (very few of which are useful for fishing).