Ok, so I checked a superstore near me, and my updated understanding is

1. anything disinfecting is alcohol based be it for skin or for for objects,
2. things designed for cleaning skin or to be “refreshing/fragrant” are mostly water based.
3. However there are skin cleaning products that are marketed more towards deep clean or dirt/oil/grease etc are almost always alcohol based.
4. cleaning objects intended wet wipes also mostly alcohol based. But if marketed as “gentle” could be water based.

So baby wipes being meant to clean skin and be “gentle”, it makes sense that they are water based.