Nice effect, but it looks more like smoke than a fluid. A constant pressure source instant of an instant splat would probably give more of a fluid effect.
I agree that it is behaving like a very non-viscous fluid, so more like a gas than a liquid.
https://matthias-research.github.io/pages/tenMinutePhysics/1...
From: https://matthias-research.github.io/pages/tenMinutePhysics/i...
It’s not a liquid, but it’s a fluid.