Possibly but not entirely - the power button works and it runs through (or off) the top case. BWT water and electrons not a good mix, by running this machine without cleaning and drying it completely first you could (or could have) cause(ed) more damage.
You should open the laptop, disconnect the power (remove the battery), and RAM dry it thoroughly (no forced air) cleaning and examining with a magnifier for burnt/corroded components. Follow the tags at right for a clue as to what you are in for.
Once completely dried fire it up - to see if your logic board/video chip is damaged connect to an external monitor. If that display works you have damaged video chain components (cable/connectors most likely). If you see nothing there you'll need a replacement logic board to determine if the display chain is damaged.
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