Does the waterproof Olympus camera also work on land?

Nice question...:) Yes..., BUT, underwater cameras are essentially designed for use underwater, so it also has bulky protective casings which keeps the camera watertight and protects it from getting soaked. So a simple photo shoot would involve you carrying and using bulky large cameras. Yes, it can be used without difficulty. If the waterproof housing is plastic, however, you may lose some focus quality. If the lens iris is adjustable, use a high number to close the lens and increase the quality to make up for it.