Ionic Eq: Levelling effect

a solvent like water can level the acidity / basicity of any compound

the above effect is called levelling effect

eXPL.

let the acid = HD

then in presence of water

HD+ H2O = H3O(+)+D(-)

thus each and every acid is converted to H3O(+) thus it is levelled

so does this mean that all acids/bases have almost the same strength in water??? (if dilution is very high)...?

it depends on the equillibrium constant of the above reaction ..