If it was an actual city that was governed by, for, and of its citizens, you know, like actual organic cities, then yeah, maybe. What this sounds like is an aquatic company town. Great for the wealthy executives, but horrible for the workers. Oceanix, or whatever they are, would basically own you in what is essentially only a step or two up from chattel slavery. Since the city would most likely be in international waters, the company would not have to follow any labor laws, which means no worker safety, no workers' rights, no unions, and you would get paid in company script and not actual money, if you even get paid at all. The whole thing is intentionally set up for maximum exploitation, so no thanks. Truly dystopian.