I've got something similar on my diesel genset. Its considerably bigger than that one. It did ok, but the thermostat switch burned up after about a year.
I ordered a new one, and asked about the life span. They said they are usually good for a few years.
Then, the element burned out. I asked again, and they said that it should last almost forever.
Turns out the unit was not turning off when the genset kicked on. If it was on when it started, it would stay on until the coolant got past the thermostat setting. But, in the meanwhile, the water pump was sucking the coolant out of the tank and letting the element run dry.
Since the thermostat was a little Klixon disk used for overtemps on air conditioner compressors, it was never designed for lots of switching under heavy load. It was directly switching a 2400 watt element at 240 volts. I mounted a heavy duty contactor in the panel box, hooked the element to those contacts.
Ran 24 volts to the coil, through the thermostat, and then through the NC contacts of the fuel pump relay.
Thus the thermostat only saw about 1/4 amp, and when the electric fuel pump kicked it to let the genset start, it killed the heater.
Been doing fine for years now.
Don't remember the brand, but it was not Kat. It was also mounted horizontally, with the cold water coming in the end and the hot water going out the side. I moved it slightly so the hot end was higher than the cold end, and it sped things up a lot.