Oh, hell no. I can never be prepared enough to see Namor lose underwater.
Well, I noticed, on this board Namor gets a lot of hatred, so that may also have something to do with the lack of interest. Though there's definitely some misinformation about the character out there that could be addressed. While I wished the character had been treated better, I do think Namor has gotten some much needed exposure from his stint in both the X-Men and New Avengers. Perhaps not an entirely favorable exposure, but I think he's picked up some new fans from both books.
There are characters more cool or interesting than Namor? ;p
I do think Namor isn't going to appeal to the average comic book buyer -- he's not your typical superhero. But I don't think Marvel has even tried to play to his strengths as a character, or go after the audiences that would appreciate him.
I also think that reaching out to the Marvel staff that are online, and asking about Namor and his future would help. Keep reminding them that folks want to see Namor, and written well. I tend to lurk in places, but I'm trying to step it up.
Thanks for your interesting input. Definitely food for thought.