The larger the magnification in relation to the diameter of the objective lens, the more difficult it becomes to hold the 'picture' in the 'frame' when the boat is rolling or pitching. The ratio 7 x 50 is a sensible compromise. 7 x 80 would be even better, but would also be more expensive. I have a good zoom bino on board, but even a small amount of extra magnification makes viewing more difficult - especially at night, when I often cannot re-locate the target.
As well as the stability issue the lower mag 7x50's will give a brighter image which is useful when using in low light situations. This is offset a bit by the fact that the exit pupil of these are 7mm which is a little large for older eyes so some of the light is wasted. Having said that, I have a set of nitrogen filled Helios 7x50's that almost seem like night vision glasses (except when it's pitch black obviously!)
Every authority always recommends 7x50s for mostly very good reasons. But I've used 8x30s for absolutely ages, mainly because they are lighter, smaller and easier to use in a "one hand for the ship, one for yourself" situation. Oh, and good 8x30s are cheaper than the same quality 7x50s.