This is another result of the hypothetical situation described in [Psalms 124:1](../124/001.md) and [Psalms 124:2](..124/002.md). This did not happen because Yahweh was actually on their side. The raging waters did not drown the Israelites. (See: [[rc://en/ta/man/translate/figs-hypo]])
Here the enemies of the writer are spoken of as if they were a raging river that would have drowned the Israelites. Alternate translation: "our enemies would have destroyed us" (See: [[rc://en/ta/man/translate/figs-metaphor]])