It's actually measuring pressure in units of depth. I wrote a spreadsheet that displays tissue compartment pressures as well as other data for a particular dive(s). Here is an excerpt from the help tab (ss = spreadsheet):Well spotted, although measuring depth in units of pressure needs to be (and probably was, now that I come to think of it) stated up-front.
UNITS OF PRESSURE
All pressure values on the ss are displayed as absolute pressures in feet or meters of salt or fresh water rather than the typical units of psi (imperial) or Kpa (metric). This seems odd at first because a distance unit (feet or meters) is used to define a pressure unit. What seems even stranger is that the gauge pressure is equal to the depth in feet or meters. To understand why this is true consider this relationship: 33 fsw/33 ft (or 10 msw/10m). We can describe it this way: there is a pressure of 33 fsw which is equivalent to a pressure exerted by 33 ft (depth) of water. The spreadsheet converts depth to a pressure in order to calculate insP, the inspired inert gas pressure. For example, to convert 80 ft of depth to its equivalent gauge pressure (P) in fsw we could write: P = 80 ft x 33 fsw/33 ft. As a sanity check on the math the ft divide out leaving fsw which is what we want. The really interesting part is that the 33 divides out giving us an answer that is actually the depth but in pressure units of fsw. This is convenient because it eliminates the need to use cumbersome unit conversions in the formulas. Absolute pressures are obtained by adding the pressure of the atmosphere at the surface to the pressure exerted by the water (which is gauge pressure).
//------------------------------
Since pressures are absolute subtracting the atmospheric pressure gives gauge pressure which is already equivalent to a depth of water which is what the ceiling requires. Here's the equation to calculate ceiling from my previous post.
D = ((P - GF * a) / (GF / b - GF + 1)) - Psb