Full disclosure, I think the packaging and overall brand aesthetic of Glossier definitely factored into my decision to purchase this product and my judgment of it.
I think it's a decent lip balm and overall balm. Is it to die for? No. But people have those products they like because it's cute and easy to use, which is the exact reason I like this product.
1) It smells delicious
2) Despite claims that this is the same as Vaseline, I find that there is a miniscule difference. While Vaseline can come off shiny and thins out easily, BalmDotCom is a little more thick and it has a semi-matte finish, which I like
3) It has multipurpose uses -- including as a cuticle balm, a salve for cuts, and as a natural highlight
1) It's much like many other balm products, including but not limited to: Lucas' PaPaw, Homeoplasmine, Biafine, Badger Balm, etc.
2) The ingredients do contain lanolin, for those who are sensitive
3) While it does it's job, it's still not a to-die-for moisturizer. This balm covers and coats and locks in moisture, but it definitely lacks that additional boost of hydration other products may give. I find that in using this product, I am providing surface moisture to my lips and preventing them from getting dry, but this balm doesn't plump or hydrate them any further.
All in all, this is a cute product and it does what it's intended for. It's certainly no miracle, but I like it.