It's similar to SEM vinyl dye, and I swear by it.
Most of the stuff you will paint will not require much prep, I commonly use brake cleaner to clean the material, let it dry, then apply my coats. That works great on the hard plastic stuff like the dash and center console. The softer plastics like the door arm rests (not the pads) and the rear 1/4 trim peices require some prep work. Those typically need the vinyl primer.
My dash and center console look OEM black, I can clean it with black magic and it shines like new. Holds up well, doesn't chip or fade.