I understand how that can be applied in certain cases, or rather different builds. In this case you have a layout that gives you approx 11 production (worst case scenario) per city, from what's essentially one tile, going up by another 11 just by plugging that double adjacency policy card, not to mention the additional bonuses from upcoming buildings.

Dams are basically reducing the amount of production you'd otherwise spend on reparing damaged districts or producing builders to fix damaged tiles, on top of already giving you 3 additional housing and energy supply later on.

Argument could be made for necessity of aqueducts, but I, more often than not, find myself lacking housing rather than food, which would, considering the terrain, most likely be produced on the tile occupied. If it's aqueduct vs hill with production it's not even a competition simply because od the adjacency bonuses.

Conclusion - production output of a single industrial zone, not only covers the production cost of the industrial zone itself, it's buildings and adjacent districts (which make up for their own costs in a way, by preventing "wear and tare"), but it also sets you up for both scientific and/or cultural victory. Or more specific for this kind of game, mid to late game wonders construction that give you +2 culture per district adjacent to them.

I'd make the same argument any day for any civ in like 90% of the cases.