2 the FAA will require a pilots license
This flying jet ski is supposedly an ultralight; a true single seat ultralight requires no license to fly (assuming it meets the requirements of Part 103 for an ultralight aircraft).
The jet ski/ultralight part isn't enough to save you. You might want to refamiliarize yourself with all of Part 103, not merely the literal text:
The position of the FAA has consistently been that these vehicles may be operated for sport and recreation purposes only. The justification for allowing the operation of these vehicles without requiring aircraft and pilot certification has been that this activity is a ''sport" generally conducted away from concentrations of population and aircraft operations. Like any sport, the participants are viewed as taking personal risks which do not affect others not involved in the activity.
You're free to use your "no license to fly" vehicle in the middle of nowhere, but you're not going to be flying it over a recreational lake where people are boating, fishing, swimming, hanging out at their lakefront property, etc.
103.15 Operations over congested areas.
No person may operate an ultralight vehicle over any congested area of a city, town, or settlement, or over any open air assembly of persons.
The FAA's position is based on the fact that ultralight vehicles are not certificated as airworthy by any approved method and are flown by uncertificated pilots for sport or recreational purposes only. Similar limitations apply to the operations of experimental and restricted category aircraft based on catastrophic incidents which have occurred in the past....The FAA believes that concentrations of the general public must be protected from the possible dangers inherent in the operations of vehicles of uncertificated, possibly unproven designs. In specific limited instances, with appropriate operational limitations, ultralight operations may be approved over congested areas, through the waiver provisions of Â103.5.
Guess what, the FAA doesn't even like licensed pilots in certified aircraft cruising over recreational lakes. The moment the flying jet ski begins to regularly come into contact with regular jet skis, and everything else, you're going to see licensing added to part 103. Idiots and their drones made aircraft licensing mandatory for anything a bit more than half a pound (250 grams). A multi-hundred pound combination of aircraft and idiot will be a cinch to make GP's prediction come true.