The boat ride is via the moat around Matsue Castle. However the moat now surrounds much of the commercial district as well. It is a low boat. Some of the bridges are very low. The canopy is a permanent fixture above the boat and does drop down when you are under a low clearance bridge. Would not recommend this if you have back issues. You literally will be staring at your feet. It was actually funny to look at everyone hunched over.
The view is wonderful and there are many cranes and turtles just going about their business. I remember fondly a little girl at a library waving to us. You can get off at different points and then get back on. We stopped to look at the Samurai district.
Many stores around there including one that served a local beer on tap that was wonderful.
Would definitely do again.