Antonyms for the phrase "blows out of the water" are terms that suggest underperformance or outright failure. Some likely antonyms could include "fails miserably," "falls short," "misses the mark," "disappoints," or "falters." Other potential antonyms might include words that convey overcoming an obstacle or challenge, such as "survives," "prevails," or "endures." Alternately, one might use antonyms that suggest a less extreme level of success, such as "meets expectations" or "performs adequately." Choosing the right antonym depends on the connotations one wishes to convey and the context in which the phrase appears.