Yes the emissions produced by a water pipe is smoke and the process of using such a pipe can be accurately called smoking as a result. However, the reality is that when one smokes moassel it is not burned/combusted and as a result the main constituent element of the smoke is in fact water vapour. Hence, smoking moassel (which is what 95%+ of the people here use a water pipe for exclusively) is not at all the same as smoking cigarettes.
No matter how long you've been around narghiles that basic fact has escaped you. If you want to actually know something about the issue you should read: http://www.velvetgloveironfist.com/k..._interview.php
After you've learned a bit about how indirect heat works with a narghile i'll be willing to pursue the matter of relative harms of various forms of tobacco consumption with you. Until that happens perusing the matter further is a waste of my time.