Who said anything about adding water? Where the hell did that come from? You're right, they're taking "raw material" and making an epoxy resin. That's not the same as taking a pre-made resin and pouring it off into their own containers and relabeling it and calling it their own. There is a process to it.
Using the airless sprayer compared to rolling and brushing it on is like night and day. That's why I asked you. So, you didn't follow their directions "to the letter". Check the pictures on the website. Do you see the applicator using a squeegee to spread the material and THEN use a roller? Brushes are for "cutting in" in tight areas like around rocks and penetrations. Yeah, it takes a little time to clean the machine when done (see my post directly above) but you cover a whole lot more ground a whole lot faster and you still have time to go back and check the spots you think might be a tad light. Did you go back and inspect the entire sight for ANY pinholes or holidays? Why did they question the quality of the PVC you used? What schedule did you use? We had no problems with getting it to adhere to the PVC. You just rough it up with 60 grit paper and it holds solid as a rock.
Tell you what, you say potato, I (and others) say potahto, let's let others decide for themselves. As far as I and others are concerned the product speaks for itself. Birdman and I are both professional installers/pond builders, are you? Or are you a DIY homeowner who just built his own pond?