I’m firmly on the side of “water is not wet” in this debate, but it’s a question that I was asked while I was high and have no answer to it. Water cannot itself be wet because you can’t get water on water. However, what is a fish in a lake? It can’t be wet until it’s taken out of the water, but it’s not dry either. Is it something else?
Saturation is moreso about having water (or any substance, really) within and throughout a thing. Being in or out of water doesn’t matter since that’s just concerning the outside.