The water doesn't disappear after a day if not consumed the way create water's does. It might be better for irrigation & you could stockpile it. That is about as much of an advantage as I can think of.
With this spell and a bucket of known size you can create a rudimentary clock! Just cast it when you set up camp for the night, and you can keep perfect track of when to change watch shifts and how long your casters have to sleep to regain spells.
Mostly the water doesn't disappear. Looks like the rule designer went overkill trying to prevent exploits, which is amusing given that the decanter of endless water is a thing.
I like the clock idea, though. : ) Combine with a dipping wooden bird figure for maximum effect.