First of all, the controller setup was seen in previous video to fail during testing so it is not in fact robust as a system even though I agree the controller by itself is probably physically robust.
I work in a robotics field and have an academic background in it as well. The controller and the other related information we know (that its input is mapped to keypresses, that in a previous test a controller failed and the only solution was troubleshooting of the controller, that a thruster was installed backwards in a previous test) is absolutely relevant. I will add that you can also see what are basic office monitors and the windows taskbar in the images. Yes, motor controllers are involved somewhere, and I don't know all of the details, but all of this strongly implies to me that a commercial PC is the core system, with this controller connected via some keymapping software, and motor controllers probably connected by usb-serial converters or something similar.
All of that looks like an undergrad project. It's common and acceptable for a student project's first test in a swimming pool. By the time humans are inside and depth is concerned, formal design and validation of something more robust should be seen. You'd want to see something much more robust with redundancies. At a very bare minimum I would expect something like an industrial or marine joystick and industrial or marine display connected to PLC. That's like a few thousand dollars and still really falls short of what I would be comfortable with. But at least it could be rigorously tested and doesn't depend on windows, drivers, keymapping software and who-knows-what in terms of development environment, libraries, compilers etc.