The event required athletes to dive into the pool and coast underwater without moving their limbs. After 60 seconds had passed – or competitors had floated to the surface, whichever came first – referees measured the distance the athletes had drifted.
Yes, it certainly sounds more like a pool game for kids than a real sport. Distance plunging is just one of a gallery of 9 Really Strange Sports That Are No Longer in the Olympics. Link -via Nag on the Lake
Rope climb is still an activity that gymnasts get tested on; it just isn't part of competition because it's too easy.
I don't see why tug of war shouldn't be at the Olympics, as long as they're going to keep the relay races.