As was stated initially, it works fine RAW. My contention is that it is unnecessarily punitive to interpret it in this manner.
Look. One of the most important abilities of a GM is to be able to take and separate the "flavor" from the "actual crunch". What we have is a contention between an ambiguous rule and an non-relevant class ability flavor description. Failing to take this simple limitation of all human language into account would lead to the Core Rulebook being a mathematical textbook of several hundred thousand pages, attempting to describe and codify all the properties of the known universe. Then, you would add probably another several hundreds of thousands of pages describing how imaginary things modify those properties. It would require doctorate degrees in all the natural science disiplines to understand and use.
Instead, we get something practical. Something that occasionally has vagueries, inconsistencies, and odd interactions. The GM's job is to learn to interpret these in a fair way to the players.
So yes, by RAW Corrupt Water can absolutely ruin an alchemist's bombs. And every single Fireball that is cast reduces the planet to a charred, lifeless husk floating in space, because it ignites all combustible objects in the area and you can make the argument that the atmosphere is combustible when exposed to enough heat.