yes, that makes it a moisturizer. Water IS moisture itself so yup! Now whether all the other ingredients make the product work for you is another story...... hahah there are plenty of moisturizers that make my hair feel like crap
Anything with water has moisturizing capabilites. I wil l still suggest to moisturize with a light moisturizer/leave in conditioner. Then use the cream has a styling agent. You can never go bad with extra moisture.