Rankin Bass was riding a high. Thundercats, the 1985 cartoon was a huge success - human/cat hybrids with special powers and magical weapons fighting a muscle-bound mummy. Next year, they bring us Silverhawks, men and women wearing bird-themed armor that lets them fly in the vacuum of space even with bare skin that fight to stop a space mafia boss that rides a squid. Not as big a success, but still popular. And then, Rankin-Bass follows that up with.... Tigersharks.
Tigersharks didn't warrant its own show, instead being paired up with three very cartoony shows that most closely resembles Heathcliff and Richie Rich called the Comic Strip. Tigersharks doesn't belong with the rest of the shows, but it certainly isn't good enough to get its own show. The cartoon follows the adventures of a salvage crew called the Tigersharks that goes to the planet Water-o to retrieve some explosives. They weren't escaping a dying planet or part of a federal protection agency. These guys just show up and somehow get involved in with the villains of the show. They aren't heroes in any regard. But they have a special device that lets them turn into aquatic animals that conveniently match their ridiculous names (though no less ridiculous that Lion-O, if I'm being honest), so they get a show named after them. In fact, it's kinda weird here that they only sometimes have their anthropomorphic forms instead of always looking like half-human/half-animals like the Thundercats.