Yes, Max, but the problem lies in a substance that might have the same properties as water, but a different chemical composition. Imagine, if you will, a glass of water with the chemical composition H-O-H. We could observe every atom in that glass. Nothing about that, however, would guarantee that the next glass of something with the same properties as water to have the same chemical composition. It would not be deductive reasoning. We could use induction to be pretty sure this is true, but we cannot know that there is not a substance like the one described. I know it seems a little far-fetched, but it does make sense.