A hard drive is sealed against dust, not against water, but water still has to find its way in through the breather filter, and mostly it does not. What it soaks is the USB board in the case and the drive's own circuit board underneath it, and what it leaves behind when it dries is salt and mineral residue that keeps corroding copper while the drive sits in a cupboard. Power a board in that state and current flows where it should not. On the bench the boards are cleaned, ultrasonically where needed, repaired where corrosion has eaten a track, and only then is the drive brought up, once.
Fire is different. A drive in a house fire is cooked from the outside: the plastic case melts, the boards blister, and if the heat was enough the drive's own lubricants and adhesives fail. The platters, on a metal spindle inside a metal chassis, survive more often than people expect, and the recovery is the drive's mechanics rebuilt around them on a donor chassis. The free look tells honestly whether that is possible.
A surge or a lightning strike arrives through the mains adapter or the USB lead and meets the board's protection diodes and regulator first. On a good day they die and nothing behind them notices; on a bad day the drive's own board takes the hit too, and the motor driver or the preamplifier goes with it. Both are repaired at board level, with the original board preserved on WD's encrypted drives so that its key survives the repair.