Hey, if those folks have other water they can use in place of the beer company's water, more power to them. Or they could rip off the labels I suppose.
First of all, they're cans, not bottles, so you can't just 'peel off the label. But to do so, would be truly disrespectful of the charity provided by Anheuser-Busch.
"Notice us and our charity, but we have torn off the name from the donor who actually gave this water because we don't like them and we'll just take the credit for the gift."
I don't think they'd be that tacky and selfish, do you?