I always found this remarkable until someone pointed out in a book or article somewhere that the same is somewhat true in English for water. We have countless words for water depending on context -- river, ocean, sea, rain, reservoir, stream, brook, mist, wave, deluge, downpour, ice, snow, h20, cloud, fog, dew, hail, brine, precipitation, pond, lake, waterfall, condensation, canal, bay, channel, inlet, gulf, ford, snowflake, pool, waterspout, iceberg, lagoon, flume, spring, estuary, irrigation -- technically all of these refer to the same substance, just in different forms and places. It's the same in the Inuit language.