Self-organization of moving objects in hydrodynamic environments has recently attracted considerable attention in connection to natural phenomena and living systems. However, the underlying physical mechanism is much less clear due to the intrinsically nonequilibrium nature, compared with self-organization of thermal systems. Hydrodynamic interactions are believed to play a crucial role in such phenomena. To elucidate the fundamental physical nature of many-body hydrodynamic interactions at a finite Reynolds number, here we study a system of co-rotating hard disks in a two-dimensional viscous fluid at zero temperature. Despite the absence of thermal noise, this system exhibits rich phase behaviours, including a fluid state with diffusive dynamics, a cluster state, a hexatic state, a glassy state, a plastic crystal state and phase demixing. We reveal that these behaviours are induced by the off-axis and many-body nature of nonlinear hydrodynamic interactions and the finite time required for propagating the interactions by momentum diffusion.