So to clarify your position, when the water is being held in Will's hand, gravity is working and pulling the water down, but when he lets it go, gravity stops working on the water?
Discussion
Newton's 3rd law:
"Whenever one object exerts a force on another object, the second object exerts an equal and opposite on the first."
The hand is exerting a force on the bottle equal to the force of gravity. The water is following the path of least resistance and flowing out of the holes. Remove the hand and the water's path of least resistance is to be still within the falling bottle. I'm baffled that this needs explaining.
I'm baffled by your explanation. the hand isn't exerting a force, he is holding the water still. What fucking retardation do you have to not see that ?! Fuck me.