that does water down the word. I think the problem is that the average person doesn't know how to find a similar word to convey their meaning.

There is a story that when Queen Victoria was commissioning the Victoria Cross she would not allow the medal to be for "bravery" because she felt any who went into battle were brave. The medal bears the words "For Valour". She had the capacity to find a word that fit her meaning rather than co-opting another.