Seems Aaron Renn has heard it, too. Bluegill recommended this essay, and it's a stimulating read. It may actually be less of "it's in the water" than bad habits learned during two hundred years of practice.
On the Riverfront, by Aaron Renn (Urbanophile)
Thursday I took a look at my “Cincinnati conundrum,” namely how it’s possible for a city that has the greatest collection of civic assets of any city its size in America to underperform demographically and economically. In that piece I called out the sprawl angle. But today I want to take a different look at it by panning back the lens to see Cincinnati as simply one example of the river city.
There are four major cities laid out on an east-west corridor along the Ohio River: Pittsburgh, Cincinnati, Louisville, and St. Louis (which is not on the Ohio River, but close enough. I’ll leave Memphis and New Orleans out of it for now). All of these are richly endowed with civic assets like Cincinnati is, having far more than their fair share of great things, yet they’ve all been stagnant to slow growing for decades.