well...neither does a paddle wheel or a pitot tube....It's all relative (remember einstein)
If a current is 5 mph but the boat is anchored, the standard speedo will read 5mph +/-.....GPS says O mph.....so which one is more right?...or accurate for the intended purpose.
Pull up the anchor, standard speedo goes to 0....GPS says 5 mph....same question.
throw in the motor, against current, pull anchor....get standard speedo to read 5mph.....you are going nowhere at 5mph.....the gps says 0.
GPS gives the better observation as to what we are doing in the real world.
I prefer GPS. I don't care about my water speed.
someone mentioned airspeed in relation to airplanes and waterspeed to boats as somehow related . It is not. Apples and oranges.
Airspeed is a critical if not the main component of operating an airplane safely. Groundspeed is irrelevant ...except of course in flight planning.
waterspeed is not critical to a boat operation. A boat doesn't sink with zero waterspeed.