I think the factual counter-argument is that child mortality has declined both from accidental drowning[1] and all causes[2]. I still think it is open to interpretation if helicopter parenting is causative or justified.

[1] http://www.cdc.gov/mmwr/preview/mmwrhtml/figures%5Cm6115a5f....

[2] http://www.childtrends.org/wp-content/uploads/2012/11/63_fig...