If it was done right it would be great. However, it is rather moot since we will not have underwater for the same reason we will not have flying mounts. The game lacks the axis to make it work.
My guess is that it was so heavy it fell off the boat and got stuck under water (;)), but there's a dye station under the water near the docks in Riften LOL.
I loved the Vashj'ir zone in Wow. One of the better zones IMO. There was a water zone added to RIFT too, I think, but it might have been after I quit playing.
I'm just wondering, why can't Argonians breath underwater? It always was their racial skill, wasn't it? And I don't think it would make them OP in any way. I don't know if there would be underwater br