I don't find the term "Protein water" misleading. to each their own...
Says protein drink on the front of the bottle. It's made with filtered water and has 40 grams of protein.
Ingredients : Filtered Water, Ion-Exchange Whey (milk) Protein Isolate, Natural and Artificial Flavors, Sucralose, Phosphoric Acid, Polysorbate 80, FD&C Blue #1