It is a 2.5 hour drive. It might take the same amount of time to go from blueseed to a meeting (with a NEXUS card) as it would from vancouver to seattle.
2.5 hours plus border wait time, plus more time if you don't have a Canadian passport and need a visa to enter the US. On the other hand Vancouver has a startup community so you don't need to go to Seattle to find an incubator. Plus we have vastly more sane immigration laws in Canada
Border waiting times and visas will be similar or worse with this scheme too. At least with the car border crossing, you have the option of a NEXUS card and your not prone to the TSA style procedures due the xray scanner you driver through.
I was going on travel times alone comparing the two, treating the border wait times as identical in both schemes. I've lived with ferries, the trip from the cruise boat to the shore will be 1 hour typically plus an extra 30 minutes for boarding/disboarding procedures and then another 45 minutes driving minimum to get from half moon bay to palo alto. So you'll be half an hour faster on average compared to vancouver-seattle. A helicopter taxi would be faster, but they typically cost $100 per one way trip.