To your point, it’s still up in the air since the composition of the squirting contains urea, but also other components. The volume alone has researchers coming to the conclusion that it could only be stored in the bladder (where urine is stored). Either way, the great nation of Britain has taken their position:

“In the United Kingdom, the British Board of Film Classification has banned films alleged to show female ejaculation, claiming that the expert medical advice they received informed them that there is no such thing as female ejaculation, and therefore it was deemed to show urine. Urination during sex (or “piss play”, as they refer to it) is considered to be obscenity under English Law. They later stated instead that they do not take any view on whether female ejaculation exists, only claiming that all examples they have seen thus far during classification have been urination during sex.”

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