A 75000 btu heater wont always work on a 4 inch vent. It depends on the overall vent height, and the amount of horizontal.
We install all the major brands. Rinnai, Paloma ( the Rheem you saw), Noritz, Takagi, Bosch. We favor Rinnai on inside mounts since they are direct vent models and their vent is zero clearance. We favor Noritz or Paloma for outdoor mounts. Paloma had the best freeze protection of them all, while Noritz has a way nicer pipe cover kit. Is one better than the other? Not really. There are no bad ones in that group. Only ones that will be a better choice for the customer.
Your comments are very typical of plumbers around the USA. 4 years ago, I was right there with you. I was installing tankless heaters in Portland 20 years ago, and I remember how they sucked big time. I put 3 in one week, and took all three back out the next week. So trust me... I was not a proponent of tankless at all. But things changed about 4 years ago. The Japanese companies started marketing their heaters here in the USA. Before then, the models available were the heaters used primarily in Europe, where they tend to use them more "point of use". It wasn't working to try to use one of those modesl "whole house". It's the Japanese who mastered the tankless heater. And as for a glorified rice cooker? You may want to do some research before you jump to that conclusion. These heaters are not new, nor is the technology. Noritz has been making and selling tankless water heaters for over 50 years. They typically last 25 years, plus all the components are replaceable individually. When the heat exchanger leaks, install a new one. The tankless heater is the last heater a home needs. When the tank ruptures, install a new one.
Why don't the Japanese models come with a better warranty? I have asked this question to the Vice President of Noritz. The simple answer is "they dont need it". If they were to factor in reserves for warranty, the prices would be even higher.
I'm personally glad that most of our competitors aren't on the "tankless train" yet. Its good for our company. Some day, you are gonna be telling a customer how you fought it too, just like I do all the time. You can't stop evolution. Tankless is coming, and coming for good.