Probably but I'm shocked that's something anyone would actually need that level of clarification on.
It's such an incorrect way to state the specification that I had to ask.
I get that it's stated wrong I'm just trying to work out how water resistant for a 50m distance swim would work :) That would be the most useless feature addition ever, especially considering how long they spent pushing it during the keynote.
It's clearly a combination of GPS and accelerometer. When it detects you've gone 50m, the waterproof seal opens up and allows the water in, frying the delicate electronics. :)