Make Up For Ever’s Water Blend foundation is the ONLY foundation I use whenever I do underwater shoots. I depend on it so much I am so scared to finish a bottle so I always have backups in 3 shades (for mixing).
After years, Make Up For Ever released a new tint called WaterTone Skin Perfecting Fresh Foundation.
NOTE: Water Tone does not replace Water Blend but I find the texture and consistency to be similary thus doing a side by side review for those who own the Water Blend.

Make Up For Ever Watertone Foundation says —-
Watertone foundation instantly enhances your skin for a natural fresh finish.
Its good for skin formula offers no transfer properties and a 24h hydration.
Watertone offers a buildable light to medium coverage for a natural glow.
The water-fresh formula of our foundation brings hydration* and radiance** during 24h with all day comfort and imperfections appearance minimized.
Your skin stays hydrated and clean, it lets your skin breathe with a fresh radiance effect!
Its respectful formula is elaborated with 94% natural origin ingredients***, 78% water based and contains no animal derived ingredients.
Watertone foundation is for normal to oily skins and suits sensitive skins. It suits to every skin tones : light skin, medium skin, tan skin and deep skin. Its 12 shades blend harmoniously with the skin to create the perfect natural , tone to tone finish.
Its texture is light and fresh for a natural and flawless looking finish. Whether it is applied with fingers or with our dedicated tools, achieve a perfect application for a natural fresh finish is easy!
Watertone is the perfect foundation which lasts all day long, no transfer garanted : mask-proof, humidity-proof, sweat-proof and water-proof.
With the given situation, I haven’t tried this new foundation underwater but I did the water test (face washing). I’ll tell more about my review as you read further down. But here’s a swatch on both Water Blend and Water Tone.
As you can see, Water Blend is more “watery” while Water Tone has thicker consistency. Still water-like in terms of application and blendabilility. Both are easy to work with.
Water Blend has less coverage as you can see, the foundation almost disappears on the left side while the Water Tone side has thicker coverage.