I would wonder if it is a game mechanical effect. Since the original sim did not let boats dive that deep, the only models at that depth would be sinking ships. In order to speed up the game (remove unneeded models) maybe once a model goes that deep they want to speed up it's crush damage. I believe (from poking around in the models and stuff) I remember a damage setting for the models to be removed from the sim and a depth setting that starts adding damage to the model the more it's below a threshold (crush depth), once the damage > the model value, it's removed from the sim.
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