I got a deluxe sample of this with my 500 point perk from Sephora. I have the shade M401, which is a limited edition, true matte red designed by Icona Pop.
The pigmentation is quite good for this shade. The colour does go on as soon as you swipe it across your lips, but for true, even coverage, I did find I had to go around a little bit to get a good coat. The colour does look very matte, with no shine. That said, it didn't feel like it was tugging on my lips at all as I applied it, but it did feel almost powdery, which ultimately led to some drying over time.
This colour had a tendency to smudge very easily. I have other, very similar reds that stay put as soon as I apply them. This one wanted to move around immediately, and did so often. The colour also didn't wear as long or as evenly as some other lipsticks, though it was by no means bad.
The absolute worst thing I have to say about this formula, though, is that it tastes HORRIBLE. Of course, I never intentionally get lipstick in my mouth, but as this one tended to slide around, it got in my mouth easily. It tasted of the worst chemicals you could imagine. It was truly nauseating. If I'm going to wear this, I would need to find a way to prevent the taste from getting in my mouth, because it's just disgusting and intolerable.
These reviews are the subjective opinions of ChickAdvisor members and not of ChickAdvisor Inc.