I would dearly like to show you an airplane in the condition of the one in picture 1. Intact and resting serenely on the flat sandy bottom of the ocean, within reach of divers. In fact I can show you hundreds of plane wrecks in these conditions, you would recognise every one a s a plane.
That's not the case at Niku. The scenario is the landing on the reef and the subsequent destruction of the plane starting at the reef line and continuing over a number of years as reported by the Gilbertese settlers. Then being washed down the side of a volcanic outcrop bit by bit down to depths of 300 metres and more. The only way to recognise it as a plane is from tiny bits and pieces and/or coral/sediment covered outlines. See picture 2, you won't recognise it as an airplane but, it used to be parts from an airplane. Now cover it in sediment and coral and leave it for 75 years.
In really bad air crash investigations, 700 mph dives into ground, there's very little to be seen that you could describe as an airplane. Just a lot of aluminium in a small area where it shouldn't be is the usual diagnosis.
IMHO we are looking at airplane wreckage, in a lot of bits (not ditch and sink) it's been through a meat grinder, deteriorated and covered in sediment and coral, it's been there a long time. Time and money will tell.

Jeff