For me it made sense when thinking about DC. It misses a couple important paradigm shifts for AC though, like resistors sometimes being used to set the ratio of voltage to current, rather than resisting anything. Gets even trickier at higher frequencies, since you have to start imagining the pipes all being made from soft material or something to model the capacitance and inductance of the wires. But how do you model the EM fields being at right angles to eachother? Also I just can't make the cross coupling of wires work in the hydraulic version. Hydraulics are contained to their pipes, their is no field surrounding them. Ditto with explaining something like a transformer. Not to mention the importance, in practice, of the right hand rule, for which I have found no good hydraulic explanation.

If you have hydraulic explanations for these, please do share.