Based on the official new post lore of Suna and Scorpious, the queen who defeat the fleet should be Suna instead of Titania.
And Suna, according to the lore, is technically Undead, as she was alive at the time Al-Maraji Empire still existed, then get poisoned and killed by Scorpious, then come back for revenge.
In my understanding, Scorpious never really died since then, as he was also called God-Emperor. He had been surviving all this time. Also, I think ancient Al-Maraji Empire is consist of current time Sin of Maraj, Leonis Empire and Drifting Sand. Leonis Empire seem to be the last part survived Suna’s attack and able to rebuild.
As for Sunken Fleet event, it probably happend after Suna is revived and destroyed some part of the Al-Maraji Empire, so Scorpious was sending a fleet to fight back. Based on the questline, The Maraji Queen, Scorpious’ ship, is likely builded in ancient port town of current Leonis Empire. Drown Sailors are probably the crews. Not sure about Crab Man, it’s either a local wildlife of Bright Forest/Underworld or cursed sailors. For Water Elemental, it was created by Suna as part of her troops to destroy the fleet. So, I don’t think Suna is evil as all, just defending her kingdom.
For the map part, it’s tricky. I guess map ratio of Overworld and Underworld are not the same, so related parts might not be directly below. Geography of the Underworld is so different as well, so I don’t think we can use the location of the Faction in the Underworld to assume the traveling path of the ship on Overworld.
Also I really miss the lore discussion. Really wish Lorekeeper or shorter weekly lore will be back soon. Lore is one of my favorite part of the game. Everything is not the same without it. 