It does look really symmetrical but my first thoughts were that is just how that portion of the ocean was rendered. The pattern has more clearly defined ripples and the gaps between the lines are smooth and very basic, as is many other portions of the oceans on Google Earth. Anyway I did some digging and it appears a few other people have picked up on this as well. A number of people may have confirmed my suspicions and said that was the only part of the ocean in that area that was charted by using bathyspheric boats. These boats use SONAR to map out where the boat goes and seems that this was the path the boat took.
If that is genuinely a potentially lost road/city, it would be interesting to send a research team there to investigate. But personally I would imagine the ocean that far out from the nearest land would be too deep for a satellite image to expose a sunken structure. I could be wrong but that's just my view on it.