I long assumed that the Earth is a "water planet" because water is mostly what you see from a distance. It wasn't until I did the math that I realized that is really about wet rocks in space vs dry rocks in space. Earth isn't made of water, it's just a damp rock. Or a bowling ball that you squirted a dozen times with a spray bottle.
There are moons out there that are more like giant snowballs - so much water that it dwarfs even our reserves.
The problem with that was, 1. there are better sources of water (the oort cloud) and 2. they aren't stuck in an gravity well.