You are exactly formulated these questions, Joey. I asked myself too, thought I know the answer. I think it is the big distance effect, when colors becomes pure. One secret was used for the photo. If you use usual Metering then the sea part will be white. For photo like this , the one point Metering need in sea area. All ather parts around will be black, but semi-tones of the see will be visible. That is all.A picture is worth a thousand words .....
Beautiful shot...had to keep asking myself if that was water or the sky. It's both isn't it? Clouds on water? Wonderful colors.