Probably intended/feature request, but this is inconsistent with waterlogged blocks that "contain" water and the like.
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Here are some steps to reproduce this issue:
Steps to Reproduce:
Place a water cauldron through using the following command:
/setblock ~ ~ ~ minecraft:water_cauldron[level=3]
Break it.
→ ❌ Notice how the liquid is not released upon doing so.
Can confirm for 1.16.5