Not the waterline
From the official specs:
Wade Mode allows Cybertruck to enter and drive through bodies of water, such as rivers or creeks.
They say up to 31 inches, not sure that qualifies as a river, but sure whatever. The water in the picture doesn't look like 31" where it's at. Looks more like it sank in the mud and bottomed out. The Cybertruck has abysmal ground clearance as it's designed to be as shit as possible in all circumstances.