Anyway, looks like it got switched from RTL to stabilize with low throttle before it starts descending. Also looks like water is denser than air (who knew?)
Could be pilot error or poor radio failsafe setup.
Assuming the baro works underwater (at least briefly), I think it was 46 inches underwater and still sinking when the water got to the FETs in the ESCs and shorted the battery out and it stopped logging.