It's all about cost.
It's kind of like the cry "why don't they bury all the power lines!?!?" All it takes is money. Lots, and lots, and lots of money. Whether they are private utilities in an unregulated market, state-owned utilities, or regulated utilities.....if they spend 20 kabillion dollars burying lines, they're gonna recover 20 kabillion dollars in their rates. If the ratepayers are okay with that, and think the tradeoff is worth it, then let's go ahead and spend the money.
But being how water users have cried rather loudly about 1) their rates going up even though 2) they are often using LESS water than before.....because they don't grasp that you're not paying for the water itself, you're paying for the cost to capture it, hold it, treat it, and deliver it (lakes, treatment plants, pipes, etc., which get more expensive every day)...good luck with that.
Lots of people want all their utilities, guaranteed 100% of the time. Oh, and also, they should be so cheap as to be almost free.
Contrast that with the system we've set up, where water suppliers are incentivized to spend little/nothing on the essentials (politically, because they are often governed by people elected by the ratepayers) to spend ZERO dollars on infrastructure, maintenance, and improvements ("vote for me! I kept your water rates low! [Nevermind that when the bill comes due for all that deferred maintenance, it'll be hellacious, but who cares, I won't be in office anymore!"], or the electric system we've set up, where the incentive for most utilities (excepting a handful of municipal utilities) is to spend as little as possible to pad profits.
You'll get the infrastructure you keep voting for.