Well, to be honest I dislike Waterdeep and it's überNPCs quite a bit. Everytime the PCs have a problem with something it's like 'we cannot fail, Waterdeep will save the day' or 'there's no way Waterdeep would allow that' or 'we need a True Res, let's go to Waterdeep'. For me as a DM it's always like the heroes are nothing but startups, no matter how high level or powerful they are. There's always someone that can stop by to undo the mess the players left behind. There's no way the PCs have to live with the consequences of their actions, they can always run home to mommy if something goes wrong.