Land and water are only two substantially different terrains on earth. For the reference of this answer the mountains etc is land as well. Life as we know has begun and evolved under water. read more
”, but in case you meant “what WILL” as written, note that it won’t happen. Even if every last bit of ice melts on Earth, it will only cover a relatively small portion of current dry land. read more
Another problem with no continents is that the weather degenerates into very high speed belts of wind, like Jupiter, if there are no land masses to cause thermals and interlink the upper and lower atmosphere. read more