Maybe I just don't get it, but I really don't see the point of Water. The initial healing spell is nice, but that's it. It's not much easier to use than the Wind healing spell, despite the lower cost. Bubbles are actively bad half the time, and if you're using Ice (which you always start with) you never know which ones will Freeze. Water damage heals some enemies.
At no point using other elements have I had nearly as much trouble with any enemy as I did with nearly every enemy while trying Water. True, I was only using the heal for most of it, but that's because everything else is just straight bad. If Water is supposed to be useful for something, I have no idea what that something is. I actually just stopped the run after losing handily to Aoba, because it's not fun to be so horrifically weak.