No need to say how important and precious an element is water for our life. Since we have many special blessings for food, I wonder why we bless for the water “shehakol”.
Although water is precious and essential, it is not considered an “important food.” Although water is more essential than wine, wine remains more “important” than water, it having unique properties that water does not have.
Because water is essential for life, G-d ensured that it should also be a (usually) common commodity. Because of this, and because it does not have “special properties (including taste),” it was not given a special blessing.
Sources: See Gemara Berachos, chapter Keitzad Mevarchim, which explains why wine, and other foods, received a special blessing on account of their special properties. Water, though the fluid of life, does not have “special properties” to give it a special blessing. Moreover, water has no taste, and blessings were enacted on taste; one only makes a blessing on water when it comes to quench one’s thirst.