One of the problems of treating water as just another commodity is that it's also a necessity. When drought hits, the "market" for water will disappear. Places that have water will keep it. Places that don't have water won't be able to get it at any price.
https://www.nytimes.com/2023/01/16/us/arizona-water-rio-verde-scottsdale.html
The New York Times
Skipped Showers, Paper Plates: An Arizona Suburb’s Water Is Cut OffHundreds of homes outside the boundaries of Scottsdale can no longer get water from the city, so their owners are living a worst-case scenario of drought in the West.
