Nope, it's the circuit board and stuff inside that's coated with a waterproofing, the case itself is not sealed at all. It's using a process from HZO. To quote from their website describing how it works:
"Rather than keep water away from the sensitive components of a device by trying to keep water out, HZO’s technology allows for full liquid ingress, protecting electronics from not only accidental drips and splashes, but also against full and extended submersion. That’s because our thin film nanocoating creates a pinhole free barrier that is applied directly to the sensitive circuitry, making electronics resistant to corrosion and damage caused by liquids and humidity, as well as providing a barrier that protects against dust, debris and other particle contaminants."
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