I don't know of any good reason to object to this product or this company, but when I looked at the website I found myself wondering if they also sell magnetic healing bracelets. If some disgruntled marketer inside the company wanted to make the product look like a fraud, a website like that would be a good way to do it.
Also, on the directions for use page it says, in all capital letters, "DO NOT RUB". Is this because rubbing will force water into the fabric or because rubbing will remove the coating?
Incidentally, a German company called Nanopool GMBH has been attempting to market a spray-on superhydrophobic silica nanocoating since 2010. It was briefly available but regulators yanked it from the shelves when more than 100 consumers got sick, including a few cases of pulmonary edema. When public health authorities tested some of the bottles that had been seized at retail stores (which sold for 30 euros each), they found that they contained ethanol and water but no silica. The company responded by speculating that the sick consumers had recklessly sprayed and breathed too much of it, and that the batch tested by authorities was just missing it's magical nano-ingredient as a result of a manufacturing error.
Nanopool continues to market heavily, and many European and US media outlets, including popular science media, are enthusiastically broadcasting the company's claims as though they are fact. The only independent testing I found reported that surfaces sprayed with the product had fewer bacteria than untreated surfaces. The product is mostly ethanol, so this result doesn't answer any questions.
So, NeverWet, Nanopool, and Ceracoat all claim to do similarly amazing things, but NeverWet is a market no-show, Nanopool lost its credibility and is being sued, and the marketing for Ceracoat looks like Power Balance Bracelets. And major industries and show no sign of adopting the technology.
Maybe these products are as revolutionary as advertised, but a marketing claim is not evidence, and what I've seen so far doesn't inspire confidence.