Moments after they emerge from ocean soaking wet, Estie and Won Ton Ton are completely dry.
The Bruce Dern character is constantly presenting story ideas to Hollywood moguls which they reject as being ridiculous and not commercial - although these plot ideas are in fact the basic story-lines of famous real films of a more recent date, such as "Jaws" and "The Exorcist". One such plot, however, is the basic story of "The Wizard Of Oz" - which is, of course, taken from one of the most famous works of American children's literature, published first in 1902, and the basis for a popular silent film which would have appeared only a short time before the period of this film. Presumably, no-one connected with "Won Ton Ton" knew about the book or the silent film.
Date on Won Ton Ton's slab in courtyard of Grauman's Chinese Theater is dated 1923 - but theater didn't even open until 1927.