If I didn't know there would be a person, I wouldn't know that the blurry black ball was a head. The title helps clarify. But, I think this would be stronger if there were say a hand peaking over the waves or some other visual clue that would help identify the ball as human. I think the composition would be stronger by cropping out 2/3rds of the sky so that viewers feel like they are right there in the water too, watching the rescue ship pass by. Great concept.
The oof foreground is distracting imo. Not sure if that's a persons head in the bottom left of the shot which is supposed to be your Waldo or if it's a bouey or just a piece of debree because it is oof but still drawing my attention. In fact nothing is clearly in focus. There are two or three people on the focsile of the ship and possibly one on the fantail so I'm unsure which is supposed to be your Waldo.
Nice take on the challenge, and fun title to give it a bit of edge. It seems the image is primarily driven by the challenge, though, but for this purpose it works well. I might have moved the horizon up a bit so there was less empty sky (which doesn't do much for me), but whether that would improve the image is a guess. The soft focus on Waldo's head does work for me, though, given the context.
Is waldo the head in the sea or the people on the boat, beautiful rich blueness of the water and cracking impact when you look at it together with the cloudless sky