People have been making plans about how to flood parts of the Sahara for about 100 years. Some of the more colorful options involved using buried nuclear warheads as trench-digging tools.
How much of it actually would die is obviously depends on factors like how big the replacement lake is and how much it affects the phosphorus, but I'm constantly amazed by how seemly separate systems are actually intimately interconnected.
The sand only moves if it is light. When the weather and climate changes, the make up of the sand changes and so does the way it moves. It is a complicated process and it would definitely have some surprises.