They have some nerve calling it "Classic Meatloaf." I've never seen a meatloaf receipe that requires adding water, or indeed many/most of the items on the ingredient list.

My uninformed assumption is that they're merely infusing as much water as possible into the raw ingredients to pump up the net weight. Perhaps the fake-meat vehicle textured soy flour absorbs significant water (it "increases water binding" according to Archer-Daniels-Midland).

It should be called, "Classic Marketing"