Scientists are still having problems explaining why the Earth has so much water, the Bible, however, says that the Earth was created with water, first, separating the water below and above, followed by separating water below to make dry land. The dusts have not settled on the arguments regarding how planets are created. There are currently two competiting and complementing theories, each with their own supporters and detractors. Both theory are not complete and they each have their own unique set of problems.
Needless to say, the Genesis accounts for the water planet fits well with GI and Tidal Downsizing, but it seems that GI theory supporters are the significantly smaller group.