On some of the newer and older ones with elec fuel injection and sensors the eng temp determined how much fuel was injected into the cyl's, without the t stats the computer may overload or not give the eng enough fuel into the cyl's and either burn the cyl's up and seize the motor or flood the rings and wash the cyl walls and you'll eventually loose compression sooner than expected by the manufacture's history for the motor. You may not get max hp out of the motor.
Just my 2 cents worth
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Tis better to be quiet and thought a fool than open your mouth and prove it!!
1991 V-20 cuddy I/O 350 volvo duo prop, 1998 15ft Grumman 9.9 Johnson 
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