I doubt a level 20-30 would sit for hours and collect easy money when they could be doing quests and exploring the server. Higher levels have access to the tier 2 breathing helm, which gives them an easy way to get emeralds.
Underwater caves makes sense from a design standpoint, but filling them with water would deter low levels from afking and getting LE at that level range. I guess that is good.
From what I have heard, filling those caves with water also affected the amount of items that spawned within them. Unless I am wrong, now higher levels have less of a reason to even attempt to make money there.
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