This sequence explains which elements (in the sense of phases or processes, not material substances) came into being in what order.

No surprises here: Just as evolution explains water enabled life as we know it to evolve, so it is considered to have appeared first after Earth was formed.

In medicine, this indicates the importance of the kidneys as the foundation of yin and yang of all organs and storehouse of essence that creates qi and mind. (Maciocia p. 23)