Why didn't hydrofoils catch on with the military?

Hydrofoil technology allowing this boat to effortlessly float above the water pic.twitter.com/Wx9HZne09B

— Science is Amazing (@AMAZlNGSCIENCE) April 23, 2020

Do you see how fast and smooth that ship is zooming across the sea?  Simply amazing!  Why didn't this catch on with a military force?  Seems like the old fast attack concepts would make this a no brainer especially in the 1st island chain.

Forget LCS.

Get a small ship with an even smaller crew, load up about four to eight medium to long range anti-ship missiles and have them zoom out to attrit an enemy fleet.

This is old tech.  Why ain't it being used?