I would call this a “barrier” lip treatment
This does feel moisturizing to a degree but the biggest benefit is how long it lasts on the lips. I see this as a top grade, non-drying, protective gloss. If you struggle with finding a gloss that doesn’t disappear in 5 seconds and doesn’t dry out your lips, this is FANTASTIC. With that said, if you are looking for a deeply hydrating lip balm that sinks in, this isn’t it (but I have other lip balms for that).