Yes, but at least in fig 1 the blue line is the water cut %age. Turn down the flow from a few typical wells and you would expect the %age to stay that same (assuming you can turn down the flow, I expect that's the case).

Just playing devils advocate, it is very similar to the time when oil prices went into a downward spiral...

If you're turning off high water cut wells to rest them, the water should come down too, right?