Have a giant whirlpool in the middle of the ocean. If a ship enters this, then after a circling the whirlpool and eventually going to the bottom, the ship is spit out in a random location on the ocean.  (Do not make any penalties, if any, too onerous.)

That's just ocean Magnus.  We'll call it 'Abyss II'.

Abyss of the Abyss.  Clever

or we can suggest that the developers put their time into real needed updates?

Ocean content gets no attention even though many players enjoy it.  We cant get them to put loot on the Margoria Ghost ships or even delete them.  Maybe we will see some new ocean content quests with the new land but i fear it will be another area like the Desert or Mt of Eternal Winter. Good to check out if you have never been but not worth spending time there.