I just received a pair of shoes "ruined" like this myself. What the hell is this substance? It's kind of sticky and gunky, and I have been rubbing the shoes for like half an hour with a rag and the black just keeps coming. It's still sticky too.
I have no idea what it is made of but beware it comes in brown too. Brown sludge on burgandy = bad.
It's not polish, it's kiwi leather dye if I'm not mistaken. It makes a nice edge dressing when in a hurry and not concerned about mucking up the leather. This line made me chuckle: "we only use the Best Polishes in the Industry". I see.