Certainly, it absorbs the rubber.
Its smell reminds me a lot of wd-40 and that worries me.
If it contains solvents, then it damages the tires, if it doesn't contain them, then it is an excellent product.
The package says it contains aliphatic hydrocarbons, but it doesn't tell me anything about the medium in which they are found.
It makes the tires black like new without leaving ANY SLICK on them.
Which means it doesn't have silicone.
The tires absorb it like engine oil and give them a similar color.
Beyond that, I still don't know to what extent it maintains or damages them...

I have been using it since 1995 in various packages that have been released. It has never caused any damage to my car! Real protection, not just a polish like other products...