Apparently according to this review on Gizmodo, NeverWet's label explicitly states "Contents contain a chemical known to cause cancer and birth defects." Hmm. That's something I don't want anywhere near my skin or mouth.
Geek.com says the spray leaves a "frosted white coating" on whatever it's applied to. So unless your putting it on a white surface, NeverWet will be visible. Apparently it rubs off pretty easily as well.
This demo video that's been viewed over four million times on YouTube shows it being applied to several items (electronics, clothing) their own website clearly states NeverWet should not be used on. And since it causes cancer, I'm not sure I'd want it anywhere near my beer.
So this amazing product is poisonous, can ruin electronics, and discolors whatever it's applied to. Those are probably three things they need to work on in version 2.0. But based on the way they've marketed this version there probably won't be a version 2.0 because people will be so disappointed after trying it, they'll never buy anything from Rust-Oleum again.
Just a little tip when you're launching a new product. Be honest about it. Nothing kills a bad product faster than great advertising. If you're product doesn't perform as promised, the long term effects on your brand will be cancerous.