Nice idea, but seriously I can see that project ending badly. Looks like the commune from hell to me. I have lived in the middle of the ocean before. It was not an easy thing to do even though we were still under United States jurisdiction. Waking up every morning, walking outside and being completely surrounded by water plays tricks on the mind itself. You must be completely self-sufficient, i.e. you are the fireman, policeman, cook, plumber etc. Due to the isolation pre-set social norms, laws and guidelines are useful. If they do not firmly establish their government or even some type of governing authority before setting out for the open water, then I fear they will be doomed from the start.