Speed requires power. Any motor will give its power as a combination of speed and torque. More speed, less torque.
Gearing down, much favoured by tug modellers, allows for a relatively small fast spinning motor to turn a large prop with lots of torque.
Gearing up, I have not heard of anybody bothering. Motors are easily available that can spin a direct drive train beyond any rpm where it might survive. Any gearing has losses,. Gearing down, nobody really notices, gearing up, the losses mount and become very noticeable very rapidly. Putting a any motor in a situation where it tries to deliver more torque than it can deliver results in smoke coming out of the motor as the insulation on the windings melts.
Boat speed. A model boat needs to travel at the speed of its real counterpart divided by the square rot of the scale. A 1/4 scale model of a 100mph real thing would need to go at 50 mph in the real world. A 1/6 scale model of a 200mph boat would need to be doing 81mph. That figure was worked out a long time ago for somebody wondering about doing a K7.
On a model, that, just as in the full size, means a large, well engineered motor. Similar standard drive train. A power supply that can supply the very large current involved for long enough without vapourising itself.