Not much good against head trauma.
People might jump on the father for some kind of negligence, but I'm not so sure there's a case for that in the facts of the article. Traveling fast and cutting another wake isn't necessarily negligent. There's also just really bad luck.
If someone gets knocked out it could hold their head above water keeping them from drowning.(though it seems not in this case as head trauma was the COD)
I dont really blame the dad unless he was drunk, it sounds like a trajic accident.
However, I wouldnt be speeding with a kid unless the lake was uncrowded and smooth as glass, and only in deep water with no stumps.