That's ballsy, though to be fair I'd be more concerned about the electronics around the engine than the engine itself for that kind of crossing.
Have you ever tried putting a winter grille cover on for deep crossings? I've always thought that might be a half-decent solution for a water crossings which might otherwise seem unfeasible without a snorkel.
Your right, however I need to mention that I have a friend that bought a used 01 3500 work truck with 50k on it for $600. It was a goverment owned truck that was in a work shop that flooded, the truck was completely submerged for 1 week then sat on a lot for a few months before being sold to the highest and only bidder of $600. He spent allot of time cleaning the truck out, it was covered in mud. After that he changed the fluids, filters, batteries, alternator and it fired up. Hes been daily driving it for 7 years now. He just replaced the entire front end and repainted the truck factory white and is joking around about selling it for 10k.