In short term, the motor may be water cooled - but that is not of any advantage unless it's feed with more than rated power.
In longer term - even if the housing isn't submerged, it seems to be open for dust getting in to the motor itself - that of course being depended on the environment where you plan to put it to use.
[edit]
Wait a minute! You said "sprinkler project" - as in fire extinguisher system ??
Well, in that case - no f... way I'd agreed to use components holding that low of a standard. You need a system that you can actually trust, this motor at the picture can fail at any moment.