Even this is ineffective at convincing some folks to get out of the water.
I was quite a teen surfer in Hawaii and have seen, first-hand, that same situation i.e., a school of sharks through the in-shore waves!
Needless to say, we all surfed, carefully, clear to the beach on the next set!!
In five years, tho', our 'gang', nor I, ever experienced an actual attack out there. Just the occasional jelly fish sting....
I think that's a dolphin--the dorsal fin is curved instead of pointed, there's no second dorsal fin, the nose is bottle-shaped, and the tail looks flat instead of long and pointed like a shark.
But still, upon first glance it sure looked like a shark, and if I saw that in the water three feet in front of me I wouldn't hang around to investigate it too closely!