FWIW, Google Earth shows depth at the spot is 296 feet. Wingspan of 777-200 is 222 ft. On its side? Doesn’t make much sense, but who knows.
On an unrelated note, in the straits between Maui and Lanai, we stopped and jumped into the water. Dropped a quarter into the water and watched it drop. It was still visible after several minutes in the sunlight.
It makes sense if the cargo broke free and is lying on the port side, while the air is up at the starboard side.
(I may have that reversed) but the photo seems quite legit to me.