The first point is the noun:
Among the types of craft that can go in the water for people to use are: a raft, a dinghy, a boat.
So, a raft is today is usually a flat craft made of rubber or wood or plastic or bamboo or some type of wood.
So, one for playing or just floating in the water will be like this and is inflatable and made of plastic . That is what makes it float:
a plastic raft for pool or lake/ocean
a bamboo raft
a log raft
All of those are: Merriam Webster
: a flat structure (as of wood) for support or transportation on water
So the semantic trait for a raft is: flat structure, floatable, used for support or transportation
- But there are also rafts made of rubber for whitewater rafting that look like this:
[These types of raft are always made of rubber and are inflatable.]
So, now we add a semantic trait: flat, inflatable sides/ends, rubber
- A dinghy is a craft with sides and looks like a rowboat:
Dinghies are often towed behind a sailboat as an emergency craft and may have an outboard motor but are also used for all sorts of recreation purposes themselves like fishing and are even sometimes equipped with a sail. They can also be rowed:
Boats: generally, boats per se are not inflatable EXCEPT for the Zodiacs, used by regular people for recreational purposes and also by the armed forces. They are made of rubber and their pontoons (the "tubes") are filled with air.
See the range of inflatable Zodiac boats here: ZodiaC
Here is a typical one:
A dinghy can be made of aluminum, plastic or wood.
To summarize: a raft is not a boat as it is too specific to be one. A dinghy is a type of small boat and has sides. Some of them that are really Zodiacs (with poontoons) can be inflatable. The aluminum dinghies are not inflatable.
Recreational rafts are inflatable and made of plastic or rubber.
Other types (wooden or log raft) are not.
Dinghies are wood, rubber, or aluminum. The rubber ones are inflatable and generally associated with a Zodiac or Zodiac-type craft.
Dinghies are small boats. Rafts are not boats but they are a water craft.
Visual clues for a raft: flatness on the water and Generally, no sides though some have them.
This nomenclature is NOT AmE. It's just English.