It is definitely easier to apply than wax.
I put it on most of my cars and seems they collect less dust.
We did not have rain for >150 days and even before it was rare, so can't say much about water repelling.
The term ceramic coating cover a wide range of products, anywhere from the full monty (paint correction, de-iron, clay bar prep and then hand application of tiny vials of fluid that cost arms and legs) to 10 minute job (spritz on / wash off after washing car).
I have done the 10 minute version and like Kajtek1 said it is easier, I get good beading for 6 months and it is cheap and easy to apply. Lots of manufacturers have jumped on the ceramic bandwagon. Buyer beware.