I would have thought that a seized water pump would just shred an ancilliary drive belt, there are separate belts that drive the power steering, alternator and a/c compressor, with the timing belt separate. I *think*, but am not sure, that the water pump is behind the drive for the power steering so that they operate off the same belt. So perhaps the water pump and power steering would fail together in that instance ?
I don't know though, I'm only guessing from diagrams such as this one