I think this is a real diver's watch.But Blancpain is directly commercial watch company(not a family company,it was bought by Swatch Group) so they do not care about brand reputation,they just think their profit.And it is clear that big sized watches are popular in today's world.i.e this watch is among them.
However with this watch,all FF reputation will be killed by Blancpain. It can also damage Blancpain name because Blancpain uses classic designs.
At all;
This watch is "ridiculous piece of sh*t" as clk said .