Can you relight a flooded water heater?
Keeping this in consideration, does a flood ruin a water heater?
Whether equipped with a conventional or a tankless water heater, both are susceptible to structural failure and may result in property damage caused by flooding. However, when faced with a leaking or flooding water heater: (1) Turn the water supply “off”. It is imperative that the heater have a working shut off valve.
Also asked, can a flooded water heater be repaired?
It is possible to restore functionality of gas water heater by replacing burner, and cleaning air intake, but gas control valve should also be replaced, even if control valve was not under water. People report cleaning parts after a flood, and unit still doesn't work. No guarantee that function can be restored.
Ordinary electric water heater that got wet is probably OK. Do not touch water heater that is wet or was wet. If insulation is VERY wet it must dry out before service is resumed otherwise trapped moisture creates problems such as corroded electrical connections at thermostats and elements.