I was rowing a boat and went into an upward slope of water like the one pictured.
I expected to float up the slope and remain above the surface of the water, similar to how a mining cart travels up a sloped track.
What happened was I remained level and went inside the water. I was ejected from the boat, which dropped to the bottom as an entity. This may or may not be intended, I do not know.
The other thing that happened that is definitely not intended was all players connected over LAN (I was hosting) were disconnected from the game.
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I tested it, and my test player 2 was not ejected from multiplayer.
The boat did eject me and sink to the bottom, however. Whether that is a bug I do not know.