It is and it is not. The ones guarded with this secret were told to spread disinformation for this one reason. They believed should man be set free of disease they would become lawless in that they would feel no need for God, and in this matter the world would become filled with the utmost debauchery.

The fifth element they taught is found in all things containing life (all life needs water)

It is for this reason I chose only water to use as something that healed all disease (pure) would not be found in something foul.

The alchemists also taught it is the reason we need to breathe (water in the air) eat (water in food) and drink. They said the fifth element can only be absorbed in such small quantities this is the reason we must do all 3 of those actions to live.

Legend says those who take this fifth element no longer need to breathe. Eat, or drink, until said element is fully absorbed and you need more. It is also said a man can be naked in the cold and he will be warm (if he takes the fifth element).

There is much more disinformation about this topic than real truth, as stated earlier this is by design.