This will never happen.
Instead we have the most arcane and bizarre un-system imaginable, with enormous amounts of water given for free to people who don't need it, and other water being very expensive for people in dire need. And everything you can and can't imagine in between.
To be fair, there were a few desperately needed reforms during the drought years, but my perhaps overly cranky estimate is that 80% of the madness remain.
Happy to be proven wrong :)