Ugly ? Hrm...i think it's enchanting and worth the effort. Perhaps you thought of it in a professionalism way ? You are right on the water part.*That protruding patch of swirling up water-mist effect towards the moon* But water effects are always a challenge.
Else, i think its a marvelous Wallpaper ! Fantastic job and definitely worth comments from it. Hey, take pride from it. You made it !
Cause i love it very much. =)