Hi Sam,
Interesting thought, can't wait to here what those here think. The biologist in me thinks it probably won't work just because of the size. If you get that much "bio mass" and that much water, (or water table) together with a large quantity of decaying wood pulp, and other organic matter you are making a giant "bio digester," and we all know what comes out of them...
However, maybe that is a good thing? You could have green houses that are heating by the methane and the created top soil may function. I just don't know? The mass rations just don't seem to work in my head... Hope I am wrong and you could make it work. Maybe bring down the scale? Level the bottom of the pit and manage the water table somehow?
Aquaculture perhaps?
Good Luck.