No, it's pretty much the premier water machine on the market for both salt water and fresh water, handling the worst of salt or ground minerals in terms of a VLF detector. It's depth is legendary along with it's tone alerts and detailed audio. It's a waterproof Sovereign, and will get even the thinnest of gold rings at jaw dropping depths, although it (and the Sovereign) are not known for hitting on fine gold, such as thin gold chains or tiny gold earings, but in terms of even thin gold rings the depth will knock your socks off, because an intact gold ring makes a complete loop in metal, and so presents as big of a signal to them as a silver coin for instance. Other machines might hit harder on finer gold like thin chains, but the Excal/Sov will hammer even a thin gold ring at extreme depth.
And, not only do many "heavy hitter" water hunters prefer the Excal, along with many heavy hitter dry beach hunters, but some are known to take the Excal onto dry land in search for old coins at pounded out "dead" public sites, because being a waterproof Sovereign, it'll do what the Sovereign does- Find old coins at sites others have long since given up on, both in terms of shear depth, and also in terms of finding old coins among iron and other junk.
You can put a meter on the Sovereign, but on the Excal you can't, but because of the long drawn out detailed audio and numerous tone alerts, many don't even want or use a meter on their Sovereign, so the need isn't also a "must" for the Excal either if you venture onto land.
If you are the type to want to hunt be ear alone on land, the Excal (or Sov) affords you that ability with some of the best detailed long audio in the industry to judge targets by, and also with the numerous tone alerts of a Minelab. It's like a Minelab had a baby with the best of the old analog audio machines...The rich detailed long audio of the cream of the crop analog machines, combined with the numerous tone alerts of a Minelab. If you like to hunt by ear, which many say is still to this day the best way to judge targets over using a visual ID, then the Excal or Sov are prime candidates for that. All that said, I still prefer a meter on my Sovereign to split hairs on targets on land in finer detail, but in terms of audio the Excalibur/Sov are where it's at IMO.