This random kill I found has 6-8 players in the dive path (damage per player comparable to what I posted above):
Doesn't look like it does shared damage (highest hits are comparable to the 20+ person stack from above), but there might be a middle damage range that's used when you're outside of the dive's direct path (30-35k base dmg) but not far enough (4-6k base dmg). There's precedence in this in other distance-based mechanics like O3S's reaper tethers.
Bonus, 0 players in the dive path (everyone is stacked near the wall):