Airplanes - twins have twice the chance of engine failure (boats too).
How much power does the remaining engine have when a twin loses one? Just enough to get you to the scene of the accident.
I have a friend who pilots single engine small planes who says something similar.
To the question of single vs twin engine boats;
1) Owning a twin engined boat, I have NO DOUBT twins cost more.

There is no multi-engine discount when getting maintenance done. If one oil change costs $190, then two will cost $380. I have no doubt insurance is higher (although I have no direct evidence); Twin Engine boats *tend* to have a higher insured value. . .and that raises the insurance cost.
2) A twin engined boat running on one engine doesn't run like a single engine boat. With one engine, my boat has real trouble getting on plane. I have taken the engine up to 3800 rpm and not succeeded. Didn't push harder, as I am not going to run my engines at 4000 RPM for 30 minutes if I can avoid it.
The few times I have come home on a single engine. . yes indeed, I came home at hull speed.
3) Twin engines are not 100% reliable. They share the same fuel system. You run out of gas. . both engines die. You foul your fuel tank, both engines die. You run your boat through a pile of sea-grass. . .both engine intakes get clogged. On smaller Sea Ray I/O's. .. there is only ONE power steering pump. If my starboard engine quits. . .the boat is manual steering only.
4) This is very true: With two engines, you are MORE LIKELY to have an equipment failure. And it is true: If ONE engine is down, you are not taking the boat for a spin. Been there, done that. Now, I don't believe the probability of a lost weekend is double, since many mechanical issues are maintenance related, and when an item fails on one engine, you think about what is happening on the other engine.
5) Here is why you have two engines: When one engine dies, you can get home without the tow of shame. More importantly, if an engine dies in a REALLY bad spot. . (which in my case was in the middle of the Barnegate Inlet, complete with rocks, shoals, wind and strong tide), you can simply putter away at hull speed, without the crew getting into a panic.
From my experience, the fact you can usually still get home after an engine failure, without the tow of shame, is well worth the many, real costs, of twin engines.
Note: Just because you have twin engines, doesn't mean you can ALWAYS get home on one engine. I still maintain a SeaTow membership.