Review (4/5): Not great, but certainly good.
Well, the first thing I noticed, and the first thing you'll likely notice upon using this product is how very watery or thin it is. As someone used to using thick, rich, creamy sorts of beard shampoo and conditioner, this was an adjustment. It doesn't foam up, it doesn't really lather, but I learned that doesn't mean it isn't working.
I would say this isn't a replacement for a beard shampoo + beard conditioner. But what it's great for is short-term travel. If I am going somewhere for a weekend trip, this is what I pack these days. Because while it's not AMAZING, and doesn't leave by beard feeling feather-soft, it's notably better than just using body wash on everything.
At home, I follow this up with an unscented beard oil after showering, and it makes for a very soft, very manageable beard, with a faint but masculine sandalwood scent that lingers the better part of the day.
As stated above, this is a beard wash, not dedicated beard shampoo and conditioner. As long as you treat it as such, you shouldn't be disappointed.