In my opinion, the main consequence is that already existing divisions on resource management will be reproduced, without considering the impacts on ecosystems. They will be amplified, to some extent, because water-related conflicts will increase. I can no longer remember which stakeholder really pressed that point, but there's no doubt that they will increase.
Simultaneously, if we don't give ourselves the tools with which to set criteria to resolve those conflicts, at some point, those conflicts won't be resolved very democratically.
Our society is heading toward some environmental problems because we've exceeded the capacity of our ecosystems. There will be consequences, because we aren't giving ourselves the tools to deal with both the resulting advantages and disadvantages. We must admit that some regions on the planet will benefit.