True. The only limit is the stomach volume. You can mix 400 grams of Soylent with 40 oz (1.25 liter) of water and it will be quite drinkable "stuff" with total volume of about 45 oz.
I think that you will be hungry in 18-20 hours, due to less than optimal usage of your calories and some waste of them, but no health risks.
I know people who have been eating several days in a row in buffet style restaurants and it was enough for them for next 23 hours. Of course they needed to eat much more calories and had a pretty high rate of waste, but quite efficient in terms of costs of nutrition