Maybe, but any explanation will need to address construction of the system and how they addressed the foundation and water pressure. For example, a series of linked pools like a set of locks going up 600 feet would have been its own engineering challenge. 

Would it have wrapped around the pyramid multiple times like a corkscrew? The more times it wrapped, the lower the water pressure on the lock gates, but the stronger the foundation and supports would need to be. What might have supported it? Maybe some sort of scaffolding system? Dunno. 🤷‍♂️