It's certainly not just wax + paper! If it was I wouldn't be very excited about it. This stuff is kind of laminated into layers. It's rigid but easy to work with. It seems to be pretty water resistant but I haven't tried soaking it overnight (that would be a good test though!). If burns for a long time if you let it burn down like a candle from the top but it burns bright and hot if you let it burn from the bottom. The price goes up and down on Amazon; when I got my last batch it was around $6.50 or so. Survival Metrics is a good place to buy it, too.

There are lots of great fire items out there and this isn't gonna be everyone's favorite. But I never go out camping or hiking without having some with me.