It's an SCBA valve and, as noted above, designed for firefighting use.
Strictly speaking, water won't cause the composite shell to fail - but if outer epoxy resin coating gets damaged and the underlying fiber wrap is damaged or exposed to water, then the tank will need to be condemned.
Also, as noted above hoop wrapped tanks are special permit tanks and one of the restrictions on them is a 15 year life span, so it's basically at the end of it's service life.
Even in the event you could use it, it's quite light for it's physical volume, so it would be incredibly floaty and you'd need a great deal of lead to achieve neutral buoyancy.
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Luxfer does make a hoop wrapped 4000 psi scuba tank, (basically a fiber wrapped shell over a standard AL 80) but it also suffers from the same life span and use/damage cautions above and they are not real common (meaning they don't sell many of them).