This hydrates my skin very well, but I don't have dry skin, so I can't say if it would be make a great difference on dry skin.
I have not seen any incredible changes, but I do feel like my skin is more hydrated and plumper than usual.
I would recommend using e few drops in your hand, and patting it into your skin, as opposed to using it with a cotton pad. The slightly thicker consistency lends itself better to this application, seeing as you would need a lot more product to soak a cotton pad. This also means I would use this as a hydrating toner, as opposed to a cleansing toner, as using it with a cotton pad isn't ideal.
I really like the packaging. It does not only look good, but the system where you have to shake it in your hand works really well with the thicker consistency. This way you won't use too much, as a drop or two will suffice. I have only been using this for a few weeks, but it looks like it'll last a long time, especially compared to an average, more liquid-y, toner.
I don't have any skin issues, so can't tell if it's bad for sensitive or acne prone skin, but I haven't had any issues with it, on the contrary, my skin definitely looks plumper than before.
I am using this as part of a 10-step routine.

This is a really great toner and its perfect for dry skin. I do have another favorite by Etude House but this come in at second place. The scent is fresh and it has a quite strong smell but it smells fresh and therefore it doesn’t bother me at all. It penetrates really fast into the skin which is perfect when you are layering products.

The packaging is fine for the product and you have to shake the bottle to get the product out, because it is a little thicker in consistency.