Having an overly realistic weather cycle might be too taxing while complicating things a bit far too much. Would be interesting to observe and experience, just that it might be more suited for games like Towns, Stonehearth, Rimworld, Timber & Stone, and such. Be interesting to see glaciers grow and shrink, water moving and such....I think it have to be done a tiny bit more simple, Starbound style, with how it rains it'll replenish the water source while also going into every exposed hole. The heavier the weather system the more that it'll try flooding areas focused more on giant craters, ponds, lakes, and such. Grab a mop, a bucket, while also having some sort of water tank to dump it all into. Maybe filter it if you want to get all complex.
I'm actually eager to see if we even do need to ship water and resources around the map and world with trucks, steam trains, and such. Setting up supply lines from one area to the next while having liquid cargo tanks focus on water & liquidized fruits for consumption. Same with chest-like storage carts for food and supplies, something like with the trains mod for Minecraft in the FTB modpacks. That should encourage exploration and expansion for those that want to take advantage of the terrain, and if it's the game's goal to encourage exploration, colonization, and etc.
Water wheels to take advantage of moving water to power and crush things? Sure. I'd accept that, same with windmills, and the like. The more I have to rely on survival and supply & demand then more the merrier.