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Pros - It does prevent water from getting through. Water will bead off the cover and roll off. The cover is very thin, if that is something you want. I think this is bad and will explain further.
Cons - Terrible fitment. These guys will tell you that the cover is custom built for your car. This is false. The cover I received fails to properly cover my car. It is both too large and too small. To clarify, the cover will not fully cover the front or rear of my car. When I try to fully cover one or the other, one will be exposed. I've bought car covers at early as 2001 for my NSX. Every competent car cover designer will install bendable hooks with rubberized coating that allows the car cover to properly stay in position in moderate to strong winds. This sealskin cover only provides thin, cheaply made, nylon straps, that are designed to go under the car near the wheels. This along with the light thin cover design, allows even a moderate breeze to pull the cover off the front or rear (or both) of the car. I always come outside to find the cover blows partially off in some way. The cover is also far too baggy on the top of the car. Again, it's just a poor fitment and false advertising regarding the "custom fit." Furthermore, due to this terrible and loose fitment that allows wind to easily get under the cover, and the poorly designed interior lining, my paint has been damaged in the front and sides of my car from this cover constantly slapping and scratching the paint. This will cost me easily a few thousand dollars to fix.
I have never owned a car cover that damaged my car, again because every car cover company I've dealt with had enough competency to design a cover with special interior to protect the paint, and the covers properly fit my car. Seal skin cover is a terrible product. I do not recommend them.
I should add that lately when I see their product on social media, the comment section is turned off. And while their site advertises that they have high reviews, no where on their site can you actually make a review of your own. I think that is very telling.