It's almost thirty years old now, but the history is just as relevant, and the warnings issued similarly prescient.
TL;DR/DW - the only reason CA has a vibrant agricultural component is because enormous amounts of water are being taken from other states and used very inefficiently. There's a hard limit on what can be redirected, and increasing demand around those sources to keep what's being taken.
Sometimes a supply-and-demand curve has a brick wall: when demand outstrips supply, cost goes from dirt-cheap to incredibly expensive fast. This is often derided as "price gouging", but is a natural consequence of basic needs being supplied cheaply vs insufficiently. CA artificially increasing its water supply faces exactly that: natural growth of demand will slam into lack of sufficient supply, and those with the funds to purchase from the supply at near-any price will suddenly destroy the market for those enjoying necessities at barely-affordable prices.