It's very similar yes. The reason I went for this stuff was because a friend had a can knocking around. I used it for something unrelated to the car and then had a lightbulb moment thinking this could work really well.
It also self levels extremely well giving a flawless looking finish (if you've prepped the surface you are spraying properly of course). I'm pretty handy around paint, I've done loads of spraying, but this stuff would look good sprayed on by a novice, I can't tell you how beautifully it levels itself. But DO NOT get any runs, be patient and built the thickness gradually as you can't sand this stuff. You'll need to start again which will mean either peeling it all, or if you haven't put enough down for it to peel properly, sanding it all back.
I can't stress how important the prep is with this stuff, it's not water based, and will react if not sprayed onto a well prepped surface. Make sure you clean the part well after prepping with something like panel wipe or some rubbing alcohol. And definitely wait for it to properly dry between layers. Trying to get it on fast will cause it to start lifting as the layers below will still be out gassing of not fully cured (I found out the hard way).
I hope I'm not making it sound scary, it's very very good stuff and easy to spray, it's just important you take your time and do the job right.
I paid £7 a can and got through about 3 and a half cans. You need to build up the layer or it won't peel. That's important if you ever want to redo it if after a few years it start looking a bit crappy again so you can just peel, wipe and paint again.
If anyone has any questions just ask.