Though this article on the Escapist doesn't mention it, another news article about the same thing I read about an hour ago mentions how one of the things they're trying to escape by creating their own country out at sea is strict building codes.
They want to be free to use shoddier construction methods. On an entirely man-made island. Miles out to sea, where there'll be no one around to come to their rescue when the whole thing collapses.
I think this will be great for a laugh one day in the future. I'm trying to determine what's likely to destroy them first, a natural disaster, being attacked by pirates without anyone to defend them, or their city collapsing under the weight of it's own hubris.