I've seen it done that way quite a bit, but I don't like it. Part of learning to dive means dragging your gear out of the water, breaking it down, debriefing, logging the dive, calculating your SAC rate, and briefing for the next dive. You only get four or five chances to set up your gear in a real dive environment during the openwater portion of the class. Skipping one of them reduces your chances of retaining of the material, and the next thing you know you're on a boat with Bob yelling at you because you put your BC on your tank backwards.
The shallow depth is not unusual, nor is the long surface swim. It's a good time to practice and/or display tired diver tows. For the first couple of dives the instructor's goal is to keep you alive and calm, in that order. However, even on the first two we usually try to burn through a tank on each dive. The stuff you do on the platform is important but not all that difficult or time-consuming if your pool time was well-spent. We spend the rest of the time practicing buoyancy, trim, and basic navigation. To get your money's worth each dive should be at least 30 minutes unless the water is really cold. There's no point in lowering the student's core temperature so much on the first dive that the second one is worthless.
Resting on the surface between dives seems like a lazy-ish cop-out.



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Like a Finn out of water 
