Is iPhone 14 water proof?

No! Absolutely not.

It is water resistant. NOT waterproof.

And yes, I'm aware of the test rating it has. But those are done in highly controlled conditions in purified water in a waveless tank, with a brand new phone that is slowly placed in flat. Not even close to real world conditions.

The warranty also clearly states that water damage is not covered.

NO. Absolutely NOT WATERPROOF.

iPhone 14 might be water resistant, but never waterproof. And by the meaning of water resistant, I mean spills of liquids on the iPhone and NOT putting your iPhone into a pool and sinking it for 2 minutes. Don’t even try it.

Sure, the image might say that, but it’s possible that it’s not true. There is still a risk that your iPhone will let water in, no matter what. As @Kurt Lang had said, the iPhone might still be OK if the iPhone is brand new and it’s in a waveless tank filled with purified water, but in real life this would not happen. Currently, the only device that is waterproof is Apple Watch.

For more information, go to About splash, water, and dust resistance of iPhone 7 and later - Apple Support.

No! It is Water Resistant which is not the same thing. You can find more information here:

About splash, water, and dust resistance of iPhone 7 and later - Apple Support