Depends on a lot of things, but most undersea cables have several fibers (typically around 10 fibers), and each fiber runs many wavelengths (typically 40 or 80). Whatever your bandwidth is per wavelength (there are lots of options, at different costs, up to maybe 400gbps) that's a huge amount of bandwidth to replace.

Space lasers probably don't do multiple wavelengths, and aiming a lot of laser transceivers is going to be challenging.

> Alternatively, is there a wavelength of light to which water is completely transparent? Can we shoot lasers of that frequency through open water instead of through cables?

Even if you could, that's only going to work for short hops, long distance fiber includes repeaters every so often (50-100 km) to deal with loss, it would be tricky to build those under the sea ... and you need to power them, which means a cable, might as well include fiber with your power cable.