There is no straight answer to that. It will depend on what how much, where...
Have you plugged in a charger and shorted it while it was wet?
There are just too many variables. That said, if you dunked the device and subsequently it won't change, then water damage would be my first suspect. If the water got inside the phone, then other damage could give the same symptoms..
Best to back it up while you still can and take it to a repair shop where they have the tools to disassemble it and see what went bad. Water and electronics don't mix and invariably end in tears.