Drinking contaminated water could kill you for most of the first half of the 20th century.
So, it's probably an unclear tradeoff, historically.
I’ve recently read that the idea that pre moderns drank alcohol as an alternative to contaminated water is a myth. See https://www.reddit.com/r/AskHistorians/comments/ol1h45/comme...
https://www.niaaa.nih.gov/publications/alcohol-and-adolescen...