That's a Yamaha AR195 jet boat

That thing has no external propellers. -- No pepsi.
It has water intake below the waterline on the front of the hull, and a pump/jet system that effectively just waterhoses shit out the back fast enough to create (significant) thrust.

He's not dead. ... Having said that, finding yourself between effectively standing water and the hull of a jet boat going flat-out is going to suck. Like, 'dislocated limbs and broken bones' levels of suck.