Doug,
I am neutral on shark feeding as done by Randy J. I prefer the Tiger Beach way as I do not like the idea of spearing fish for my fun (a little odd considering the chumsicle fish are in the same boat so to speak). Anyway, about 22 years ago, I took my wife on a shark dive at Walker Cay for our honeymoon (* Most said I tried to off her then but that's another story). It was a relatively new shark dive as that was around when they were starting to get serious. We were the end of the season so we were the only 2 divers + the dive master in the water.
Even before we had anchored, black tip reef sharks were bumping the boat and cutting the water. In the water, we had sharks of all types, over 100 or so, from Nurse, Lemon, Black Tip and Bull. Often the black tip cut between us and us and the dive master. Had no problem approaching any of them within probably 5 feet, except the bulls which stayed in the distance. We free swam for about 40 minutes in this and yes I have the video of it.
Now for the rest of it, because we were the only 2 diving, we did not bait nor feed them in any way. The sharks were fully aware that this was a common feeding area and when the boat showed up, they came looking for food. We even laughed about it before we got in the water that the sharks were going to be pissed that they were not going to be fed.
When my wife lived in the FL Keys, her stepfather would bring the by catch tropical fish into the canal. They would feed them dog food. Every morning, the fish would follow them looking for the food. The fish even could recognize which person was the one going to feed them, they got to know my wife. On beach dive that we did years ago off Commercial, we were followed by a trigger fish, not native to FL, the entire dive. If we went too far away, it would find us and rush over. Again, this fish knew we were people and people had fed it when it was in an aquarium. We played with it the entire dive. Fish/sharks can indeed learn to associate food with people.
Overall, I like the idea of being able to dive with the sharks in shark dives and do not want it banned. But I find it irresponsible when I hear people, including dive masters, say things including "we do not alter their behavior", "I can read a shark and know what it is going to do"... etc. Many of these have been said on this board. What I prefer is an awareness that yes, the bait is attracting the sharks and they, like any other animal, are aware that we are doing this commonly at this location and can learn to associate it with us. Also that as any other animal, we cannot predict what they will do. Shark diving 100% safe, no. Shark diving risk acceptable... depends on who the diver is, although they should fully under stand the risk. I have thought about taking my daughter, but due to her size, she would be shark bait.
Lastly, I believe the shark dive on Walker's Cay was being operated by the Watson family at the time....