Still makes no sense.
Picture a 1 square inch tube pressed against your skin. Now pump it full to 50psi with air, water, bananas, oil, or jelly. The pressure exerted against your skin is going to be 50psi in all cases.
If you let half the air out of the dry suit, the air pressure inside won't be halved, the volume will be halved because the water will press the suit in until the pressure is equalized.
What if the dry suit fit so well that there was NO air in it?
I'm thinking Pascal has something to do with this.