I love freedive fins; caught up to a spear tip! 

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What g1138 said plus why would one go down with an unattached camera if it was worth more than 99 cents?
How buoyant is the usual $5k camera rig? How hard would it be to make it neutral?
Buoyancy of a camera setup has many variables.
My camera (not nearly that expensive) could float without too much added floation by itself. With the wide angle lens, it is a rock. If both strobes are added to either configuration, it floats.
It would be nice is someone would invent A CO2 powered pouch that would inflate at a predetermined depth and inflate a brightly colored liftbag.
So, what you're looking for is basically an automatic life jacket like you'd find in a plane that inflates by an adjustable hydrostatic pressure sensor? It's a cool idea... maybe you could find a company to sell it to....
I lost a camera in 70' while I getting back on the boat. It was a $1,000.00 rig. Chased it to 30' and gave up. 6 weeks later, someone found it, identified the boat from the topside photos, called the captain, who called me, connected with the finder and got my camera back in working condition.