My personal theory is that the freediving activities has the same sportive potential as the skiing events, and with regards to Olympic Games there's a good comparison to be drawn from skiing. [ame="http://en.wikipedia.org/wiki/Snowboarding"]Snowboarding[/ame] was concocted in the 1970's by some crazy kids and introduced to the Olympic Games in 1998, meaning it took that sport some 20 years to get organized well enough for IOC to take it onboard.
Now, freediving is actually older than snowboarding, having it's first nolimits-like record attempts from around 1950 (and of course many would say freediving stems from the dawn of humans). But as a traditionally organized sport with regular competitions and not just records, that didn't really start before ca. 1994-96. So the 2016 Olympics doesn't sound too far fetched, actually.
Except of course for the CMAS element, which will probably delay this process. Also, we shouldn't forget the risks of our game, which will probably make some IOC sports politicians hesitant (I of course would compare the risks of freediving with those of skiing, but that's a different discussion).
And again, it might not even be the ultimate goal to get freediving to the Olympics all together. I still think there's a massive potential in a collective 'World UnderWater Games', including static, dynamic & depth apnea, finswimming, UW hockey, UW rugby, harpoon target shooting, you name it.
I'll actually commend CMAS for putting a lot of events together in the
Bari 2007 session (though I don't know how well that went), or though it saddens me that such a good aquatic concept doesn't include the apnea events.