I think it's been around for a while...it's not an uncommon phenomenon. NARS has one too - Sabrina lip therapy I think it's called. You can wear it alone or under your lipstick, apparently.
It's been around for some time, I have it, if it's got the triangle icon on the site it probably means they are finally discontinuing it. They also make lip treatment in the lipstick tube format and it's incredibly similar.