The OEM has a dip due to the horizontal flat panel style, otherwise in order to get a linear flow of air they would have to place the filter vertically which would have increased the size of the OEM intake and might have not had enough room due to the hood. No intake system is going to hydrolock the engine with water unless you submerge the opening with water and get a good amount of water into the system. This intake has been in use for many months in Michigan snow and rain without any ill affects.
On a side note, just shipped out 5 kits to some lucky EcoBoost owners! Should make a nice after Christmas present for some!
Happy Holidays all!