Hu, no. Breathable let water out but does not let water in. So if you sweat inside the suit the sweat can escape so you stay dry, but the water cannot come it. From what I heard it's fantastic. All the suits I have listed are both waterproof and breathable...

Drysuits of old were not breathable. So the water was not coming in, but the sweat was not getting out either. So you ended up wet inside your drysuit. New materials are awesome, do not ask me how they work, but they do, I have a motorcycle suit and a ski jacket in breathable fabrics and those are windproof, waterproof *and* breathable.