Yup!
This is just massively overpriced car wax and fabric protectant, both of which you can apply to the appropriate areas of the car for a small fraction of what the dealer wants to charge you.
A good general rule of thumb is to reject ALL extras that the dealer offers you after you have negotiated the purchase price of the car. This is their way of making the good deal that you have negotiated into a really good deal for them.
Don’t be a sucker!