The fire blanket seems great, for when the fire happens to be right on top of the galley in such a way that covering it from above will close off the oxygen supply, like the pan fire in the YM video. But I don't see a blanket working when the fire is inside, behind, or below the stove.
The (proper) extinguisher works in all situations and therefore doesn't require me to make decisions about which tool is appropriate for the job in a situation where my decision-making ability might be impaired.
Maybe my fire drill should be, apply the blanket, then ready the extinguisher and inspect.
1972 Catalina 27