It's water resistant but water damage isn't covered under warranty? How can you have it both ways like that? "Water resistance IP67 under IEC standard 60529. Liquid damage not covered under warranty." How does one make such a big deal of it being water resistant (Product film: 1m 35s; "...to make this the first water resistant iPhone") but not cover liquid damage under warranty?
Probably because it's water resistant not water proof. You can't put it 50m under water for a few days and then complain it's damaged. I guess if they are saying it's water resistant they have tested pretty extensively and can guarantee that under the conditions they say it will not get damaged. Not great that the customer has to place their trust in the company regarding that though.
Yes, it's unfortunate that if its damages under 50m it's your word versus their word.