I see it as "A Perfect Storm".
1) The lake's level has been kept artificially high, causing waves (
but especially wakes) to reach deeper into the sub-soils which have sequestered tons of phosphorus and nitrogen.
The justified call for a "no-wake" condition was never made.
(I've edited/moved the above to "cause #1").
2) Recent Lake Kanasatka's obvious blooms "seeded" the Big Lake last season.
(Apply "Occam's Razor" to Lake Kanasatka's adjacent septics problem)..
3) No recent breezes to dilute blooms, so hot surface waters are quietly "cooking the broth".
4).Last season's heavy rains have washed countless (and distant) green lawns' fertilizers into the greater Winnipesaukee Basin.
5) Pine-tree pollen, which slows the normal mixing and dilution of Spring's lakefront waters is occurring presently--warming surface waters.
6) A
hot seasonal weather pattern which encourages biological growth is upon us and likely to put a synergistic action into this mess.
7) This is not to mention the sandbar problem.
Salts, from water softening devices, road salt, natural erosion and urine will "gravitate" to the depths. Evaporation of pure water vapor concentrates these various salts.
Lakeport drains surface waters when it should have a long pipe drawing water from the deepest parts of the lake. IMHO.
Primarily a cod-like fish of the cold and salty Atlantic Ocean,
Cusk nonetheless thrive in Lake Winnipesaukee's depths.
On this rainy day, I reorganized the file cabinet. In my "Environment" file, I stumbled across a Swiss study that found prescription
statins in their ground water. Switzerland doesn't manufacture statins, and the study is 20 years old!
8) In former years, snow on thick ice cover kept our waters from "
solar gain".
This past winter scarcely rated an "Ice-In".
9) Due to an exotic disease, the lake's many Eastern Hemlock trees are experiencing a major loss of their stubby needles. Throwing needles (leaf-blower fashion) into the lake, does this affect acidity?
10)
Phosphorus is one of many chemicals that are used in fireworks' aerial displays.
https://www.thoughtco.com/elements-in-fireworks-607342
I'd shelve that concern for now, as a huge number of northern-tier lakes can be affected by this byproduct.
Injuries from fireworks are bad enough, so restrictions on excessive recreational fireworks need to be studied.
11) Drilled wells have "robbed" from the pure springs that feed the lake. Camps from the 1950s drew their water from the lake. For whatever purpose,
that water got filtered in the deep soils below leach fields.
Evaporation can be fierce on windy days--concentrating impurities, nutrients and Cyanobacteria in our waters.

.
12) Cleaning your boat:
Quote:
"These tips don’t just apply to washing your boat in the lake but also to washing your pets and yourself. We urge you to do a little research into the products you’re using and remind yourself that a “green” label may increase the odds of a green lake. Do all your washing away from the lake, and use clean, drain, dry practices so we can Keep Winni Blue"
--WMUR
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ETA:
With this Memorial Day Weekend's very high waters and huge wakes, I observed being unable to see my feet even ten feet from shore! These abusive wakes are seriously eroding the banks of Lake Winnipesaukee...!
13) Black "bathtub rings" have returned.
While Winter Harbor shorelines sport two prominent rings (which correspond to the beginning and end of the boating season) the Wolfeboro town docks display a single (and thick) broad band.
Someone of high school age could take and chemically examine a sample. Make the test a "presumptive" test for petroleum. My suspicion is the rings are primarily of petroleum deposition and are:
a) composed of
asphalt leaching from roadways. Because of fairly recent extensive cutting of trees near utility poles, heavy rains can strike the roadways harder, eroding the surface more readily.
Asphalt house shingles also produce asphalt leaching.
b)
grease seeping from powerboat lower units.
c)
Oils deposited from sunblock lotions.