Without billionaires hoarding their wealth, yes.

Scarcity is not a creation of the uber rich, it just exacerbated by them.

40% of food is thrown out in the US every year, food scarcity is not an issue in the US at least. Sure there are certain decisions that need to be made but once again, these decisions are not required to be done by the billionaire class and are already being handled by your lower level municipality workers. It wouldn’t delve into chaos because Joe stopped telling investors why they should invest, we simply need to forget about there bullshit profit motives and manage resources without a dollar valuation and instead based on how scarce the resource and its utilitarian value is when utilized in a specific process.

Scarcity is not a creation of the uber rich, it just exacerbated by them.

Exactly scarcity is the the means at which we can judge how something can be utilized, when you complicate that with dollar valuations instead of the utility and efficiency it can generate you end up in a corrupt broken system extracting wealth to those who can name prices, instead of proper resource allocation that can benefit all.

Right now it is mostly decided by economic power and a byzantine set of rules and laws dictating who owns the water.

As stated it’s currently handled by municipality workers who can continue with the current process or switch to one which values the utilitarian output of a decision versus its economic value. None of the issues described are solved by or aided by the inclusion of a billionaire class, instead they, as you stated, exacerbated by such classes of individuals.