This idea is not even that new, I remember when the Plumstead brothers had almost everything nailed down for a Flowrider in Joburg and second phase in CT back around 1998 or so, and then their corporate sponsor pulled out...
The problem with these machines is that they basically have to be a big sell out and market themselves to all the people you would never ever see on a real wave. And as per usual, the guys with all the skills never have the cash to ride it.
It would be sick to have one here though, i do get all nostalgic about those 20 second barrels i got when i lived near Gateway...