They use a pretty tenacious polysulfide, more in lines of a 3M 4200 IMHO. But if it were me - and I plan to re-do mine someday when I beach her high and dry on a sandbar, I am going to use LifeCaulk. As with most thngs like painting, the prep work will make the entire job so easier.
FWIW I now prefer LifeCaulk over 3M 4200 as the tubes last for seasons, whereas the 4200 dries out and gets hard. I have never had any issues or concerns about its durability and longevity. For areas below the waterline or subject to extreme stress (like bedding a piece of hardware) I still use 3M 5200.