The weight of the water and a water injection system is a minor thing. Biggest tanks I've seen are five gallons... maybe forty pounds. Not much compared to the other useless stuff on modern cars.
But yeah, on a modern, non-turbocharged ultra-lean burn engine, not really worth it. On a turbocharged engine, helps longevity, (which is why GM used it for a while) but as OEM, it's difficult to get people to refill the darn tank, which is why it was dropped.
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