That sounds like a fair point Jeremy, I’ll have a closer look around when I have the opportunity, and report back on the construction. The fences on different tracks vary enormously, and I suspect the same is true of the water-jumps.
My perception is that there are fewer falls at water-jumps these days, and certainly fewer injuries, partly because of the change in specification, and also (obviously) because fewer courses have them to start with.
One notable exception in recent times was the fatal fall of Geos in a point-to-point at Tweseldown, but that is a natural brook rather than a man-made obstacle (it was a very interesting fence but would not have been allowed on a professional jump course). And for the current season I understand it has been rebuilt, with modifications to the take-off and landing sides.