Some feedback:
The wheel spins a bit too fast, and it should have water vessels/pots attached to it. Also, it will look weird when placed on land... i dunno, a modeled water pond underneath would be nice for use as a structures, while people using it as a doodad will probably prefer it without. The fact that it has tiers however makes me feel like it should be used like a structure, so adding some kind of well underneath would make sense.