I don't see how it changes the situation. Even if the owner intentionally damaged the phone they would still be entitled to having it repaired for $parts + $labor.
For one, still not all $1000 phones are waterproof, and second, this can apply to all kind of other devices, like laptops, who can't be or is very difficult to make waterproof without major compromises (e.g. heat dissipation).
Anecdote: dropped an iPhone 6 to the bottom of a pool. Failed spectacularly bringing it back up a few times. Total about 2-3 minutes submerged at around 2m.
Put the phone in a rice bag for 2 days, charged and it's working fine :)
That red strip on iDevices that changed in temporary high-humidity conditions. If Apple actually produced good PCBs and conformally-coated them and capped their JTAGs, water damage and corrosion would be much less likely.
Them: "You dropped it in water didn't you?"
Me: "No, I didn't"
Them: "Yes, you did"
Me: "Nope"
Them: "Yep"
Me: "Nope" .......