@Cymric
Regarding the hydrodynamics of said outfit, I would imagine the designers had thought of that to some extent. It's made from the same sorts of materials (according to the site x-ray linked in his post) as "conventional" swimwear so I don't think you'd have to wait for it to dry and we're just assuming the material flaps around like anything and catches nice big air pockets just because it seems not to fit like a second skin. Without actually seeing one in action, how can you be sure? It might be the case the design squeezes any air pockets out as you enter the water, who knows? A single shot of a woman running somewhat comically in the spume is no indicator, really.
On a straight out comparison, I am sure a normal bodysuit would win a hydrodynamic performance test. However, unless this suit absolutely cripples swimming performance as opposed to just being marginally worse, then I don't see an issue.