Not to sound too negative, but I kind of feel like the timing of this story is suspect. It seems to be on the heels of numerous articles [1][2][3] from Pixar talking about their new character, which is an octopus, escaping and rescuing Dory the fish.

FWIW, I am a huge fan of cephalopods and have a large octopus tattoo enshrining my admiration for the animal. They certainly are highly intelligent, so the story isn't impossible.

[1] http://zap2it.com/2016/04/finding-dory-director-hank-septopu...

[2] http://www.awn.com/animationworld/ultimate-sidekick-finally-...

[3] http://article.wn.com/view/2016/04/07/8216finding_dory_8217s...