The only connection between neutral and any part of the Equipment Grounding System (EGS) should be the Main Bonding Jumper (MBJ) at the service disconnecting means. The fact that, under optimal conditions, they will be at the same potential is irrelevant. Neutral must be isolated from EGS/GES (Grounding Electrode System) at outbuilding.If i bond the water line to the EGC in the out building the EGC and the neutral in out building would be same ,
I would bond it to the equipment ground bar along with the grounding electrode conductor to the rods.
Would this be called an "auxiliary" effective ground fault current path?
No it is establishing a grounding electrode system at the second building. A grounding electrode system is not intended to be an effective ground fault current path, though sometimes (as in this case) they incidentally become one.
...That would make for a parallel path on the neutral.
... if certain electrodes are already present you must use them - metallic underground water piping over 10 feet long is one of those.
Technically that is only correct if the section of pipe which qualifies as the water pipe electrode at the originating building is completely compliant and the same section going to the outbuilding. It may be one, the other, neither, or both. Only the latter would hold true to your comment....Instead, the water pipe {250.52(A)(1)} acting as the permitted grounding electrode, is connected to the GEC; which precludes the necessity of adding ground rods as your required GES is complete. Essentially then, that also bonds the water pipe to the feeder EGC that was brought to the sub-panel.
Answer: the water pipe is required to be used as the grounding electrode. Run your GEC to it and you're done.