Well this was kind of better than the Ring "review", but it took them 2 minutes just to actually start talking about the film.
For some reason, this movie reminds me of another movie I partly saw on TV where these people somehow fell off a boat they rented (no idea how) & they're trying to think of a way to get back on before they drown, get eaten, or whatever. Another film where it's a simple concept, but one that can actually be quite scary without having to add anything supernatural & the like. I just wish I could remember its name....
Edit: I THINK it was Adrift (2006), aka Open Water 2. Funny enough, that complaint from Mike about "why don't they try tying their clothes together to make a rope" might've been what triggered my memory of this movie because I recall there was a scene where they try doing that in order to climb back up on the boat.