Knowing what's in a skin care product is important, especially if a client has an allergy or to avoid accidentally mixing ingredients that should not be used together. However, a product shouldn't be judged solely off the ingredient list.
There is a lot that an ingredient list doesn't say, per PopSugar. This includes:
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what the product is,
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the concentration of each ingredient (unless the ingredient is active),
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how much of the ingredient there is,
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how the ingredients are formulated together,
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if there is any special technology or innovation used,
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the grade of an ingredient,
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where the brand sources its ingredients.
There are a lot of misconceptions about what ingredients are "good" and what are "bad," such as parabens and sulphates, but in small concentrations these can be beneficial. This is why a product can't be judged solely on its list.
Overall, an ingredient list is good to read, but there's more to a product than its list.