It can do light duty as a primer, especially if you get uneven skin texture due to water retention and puffiness around the eyes, but it's not going to make shadow grip on there and wear like iron. It won't make shadow slide off or crease either, though.
It's mostly for battling under eye bags, puffiness and uneven color/darkness. For puffy eyes, it's much easier to deal with than concealer, because it's easy to mask them with the tint it has and the slight reflectivity. I use it instead of concealer when I want a light look, or under concealer. It's like a multi-purpose Fast Response cream with a better texture.