Yes, it has a second form: a shipwreck form.
I can’t imagine one of the more recent tragedies being made into a Lego set that can also break as a “play” feature.. LOL.
Still, even if this was a real tragedy from the past, we can’t argue that the set looks great with a clever, albeit slightly insensitive, 2-in-1 feature.
Check it out on AliExpress: https://s.click.aliexpress.com/e/_DeGkPZr