I like the thought that we must not water down the word. It seems to me that when people say the word is not for them but for someone else--like for Israel---it is simply watering down the word.
When the word gives the principles of God, those principles are truth, not watered down by limiting them to a certain audience. The audience does not affect the principles of the Lord.
Do you try to water down Luke 12:32-33 for yourself?
32 Fear not, little flock; for it is your Father's good pleasure to give you the kingdom.
33 Sell that ye have, and give alms; provide yourselves bags which wax not old, a treasure in the heavens that faileth not, where no thief approacheth, neither moth corrupteth.