Meanwhile, your liver can remove about 10g/12ml of alcohol per hour. In order for you to reach a meaningful BAC, you will need to absorb significantly more than that.
For example, drinking 1 liter of 1% alcohol solution per hour will not result in any significant BAC, because you can remove alcohol from your bloodstream faster than alcohol enters your bloodstream. You've got a well-optimized queue there.
5 liters of 1% alcohol is the same as above, just repeated 5 times. Your queue is still working fine.
1 liter of 5% alcohol, on the other hand, will dump 50ml of alcohol into your bloodstream within an hour. Now you have a backlog, and this backlog is what increases your BAC.
So dilution does matter, even if the absolute amount of alcohol is the same. You're basically diluting alcohol consumption over time.
If you're drinking 30-50 units of water for every unit of alcohol, all that alcohol is going to be very diluted and have little effect on your BAC. There's probably a threshold beyond which you'll just piss it all out before the your BAC ever reaches a meaningful number.