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The phrase "are missing the boat" is correct and usable in written English.
It is typically used to indicate that someone is failing to understand or take advantage of an opportunity.
Example: "If you think that investing in that company is a good idea, you are missing the boat; the market is already saturated."
Alternatives: "are missing the point" or "are out of touch".
Exact(37)
We are missing the boat.
Companies who simply adapt their technology to the way they do business are missing the boat.
Duffell says that schools that cut back on programs like Second Step are missing the boat.
"By going 100 per cent vegan I think people are missing the boat," said Mr Bittman.
These petroleum manufacturers are missing the boat in terms of what role brand can play".
"From two perspectives, these senior executives are missing the boat," Mr. Chappelew said.
Similar(23)
Cell biologists, Dr. Atala recalled, were missing the boat.
"It just felt lazy, stale and I think that mainstream television is missing the boat".
And if that's not what Washington's talking about, then we will be missing the boat.
"Anyone who doesn't realize the fight that's in the Fighting Irish is missing the boat," he said.
You make them aware that they're missing the boat, that they're not being fully alive.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com