Here's why:
* Not all substances dissolve in water. For example, oil and fat are hydrophobic (water-repelling) and don't dissolve in water.
* There are other solvents that dissolve more substances than water. For example, acetone is a good solvent for many organic compounds, even some that water doesn't dissolve.
So, while water is an excellent solvent and dissolves many substances, it's not truly universal.