[hackyhacky]

Yes, exactly that. The -k or -ka suffix in Slavic languages often expresses the diminutive, similar to -ito, -ita in Spanish. Thus:

* вода - voda - water

* водка - vodka - vodka

[ithkuil]

English has several form of diminutive that are still in use but only -ie seems to be still somewhat productirlve (i.e. used to produce diminutives of new words).

-ie (doggie)

-let (booklet)

-ling (duckling)

-ette (cigarette)

None of which seem to work well with "water" (waterie, watelet, waterling, waterette)