In my opinion, yes it is overkill, but you found a reason to buy a new tool, and that is what's important here. If you happen to be married, then scroll down for the answer to show to your wife...

Yes, absolutely you must have this tool, and in fact you need to buy a new table saw, drill press, router, orbital sander, band saw, thickness planer, jointer, workbench, and quite an array of hand tools. This list is not all-inclusive and there are many other tools you will need. You simply cannot build a wood kayak or canoe without these tools.