Yep, it is based on wateborne system.
Agree, price is very affordable, so people can paint their cars without paying extra fee for brands
And you don't have to buy thinner separately - it is included with standard package, and when you mix it together you have 1.6 liter of sprayable paint.

Greetings! Would like to represent myself. My name is Dmitry, I am from Ventspils, Latvia. Three years ago I started to work on making chameleon paints for automotive refinish. Today I produce two chameleon basecoats: 1) VENTSEPAC VF015 2) VENTSEPAC AM014 Please, have a look at the photos. http://1....