"Waters" symbolize the abundance, diversity of Wisdom of God's gracious Commandments, which contain, preserve the Divine Truth of His Will, which is a spiritual Source, flooding man with the Word of God for life in righteousness.
"Waters" is also a symbol of various sinful ideologies, false beliefs, religions, philosophies, which contain the "water" of man's sinful wisdom, from which he draws guidance for maintaining, justifying his sinful life.