Steady State Volume
The ocean is the largest reservoir in the global water cycle. While water constantly evaporates and precipitates, the overall volume remains relatively stable over long periods. This steady state is maintained because the rate of input (runoff, precipitation) roughly equals the rate of output (evaporation), preventing significant net loss or gain.
Atmospheric Retention
The atmosphere acts as a temporary storage unit, moving water between land and sea. However, gravity keeps the bulk of this water on the planet's surface. The continuous recycling of water ensures that the ocean doesn't dry up, nor does it receive uncontrolled influxes that would cause it to overflow its geological boundaries.