That's why even basic CPL curriculum has partial panel training. (I am aware that the Beaver, obviously a very common floatplane, was originally all vacuum instruments, but many have an electric TC now).It might seem ok until the one lone vacuum pump you have in your float plane packs it in and you are over a 3000' layer that hangs down to 300' agl
Then by your analysis is isn't a good idea form ANY plane, land or sea.OTT not a good idea for seaplanes
We're talking VFR OTT not IFR, so only the legal VFR OTT weather requirements and forecasts should be applied to this discussion. A lot of the scenarios mentioned in previous posts such as floatplanes taking off from YVR IFR and going VFR later are not relevant to this topic. And I would say the same for descending through a 3000' overcast, and possibly freezing, layer to break out 500' above the ground/water: floatplanes are not typically going to be that high to start with, let alone above a freezing layer.
We can split hairs down to the molecular level and find something wrong with any regulation if we really try. But pragmatically and viewed in a likely context where VFR OTT (especially commercially) would occur, there are acceptable reasons for having VFR OTT. Just like basic VFR vis and ceiling requirements were pilots may not feel comfortable with 2sm vis below 1000', especially around terrain, a pilot should have their own minima for VFR OTT that might be less than what is written into the CARS.