Yachtsman Steakhouse has this same environment with the the pool right outside. If you get a seat by the window you'll most likely be looking out at suits and sunscreen.I don't see 5-star dining working at a water park, I feel like the bathing suits would ruin the atmosphere of fine dining.
Maybe if you have it be secluded, like Crush n Gusher is, it would be better off, especially if you surround it with overgrown shrubbery