In reply to Ysgo:
This is a comment that I've heard you make before and it interests me greatly; in fact, I suspect this question is one we'll explore in greater detail throughout next year's Comparison Review.
Whilst I can see where you're coming from, for an answer I look towards major/global skincare brands like Nivea, Nutrigena, Olay etc..., who clearly know a thing or two about moisturising, and the major ingredient within ALL of them is water. So, are we being fleeced or is there a reason for this?
My take, within the remit of this particular review (and not the comparison review mentioned earlier), is that as Ellie quite rightly points out: it absorbs almost instantaneously. Maybe it is 'watered down', but if it then does what it's supposed to do quicker and you're more likely to use it, then you know what - that's functionality that I wouldn't mind paying for.
With my comparison review hat on, what I would really want to know is whether the use of beeswax or shea butter as a main ingredient makes it a more effective moisturiser. If it does, that's a positive, but the negative absorption rate would have to be taken into consideration as another valid aspect of performance. As would smell...apparently...
Any other factors people who like us to examine?