I have a friend who specializes in underwater photography and uses Nikon gear. He loads several cameras with 35mm film. Once the film is shot the camera is expired until it comes back to the surface. He also had a hammer-head shark try to consume his lighting system. He has a great shot of that.
I would think the sheer complexity of changing film and view camera settings would make the task difficult at best. I could see 4x5 being done in shallow waters around reefs.