All the car guys are doing it these days. Its their way of cheaply "coating" an item. So they will take stock wheels and plastidip them. Or take a new wheel and mock it up in a different color with plastidip to see if they like it. Track cars are plastidiping or vinyl wrapping the vehicle to preserve the paint. I actually plastidiped a few park wrenches this weekend to make them a little more comfy in my hand.

but if you care about aesthetics its still not as good as paint or powder so dont try and pass it off as such.