It is labeled as a softener/conditioner. My very first bottle I got was from Cavender's in San Antonio Texas were I bought a pair of boots. It is a white cream the consistency of ketchup. The leather doesn't get "mushy" if I can describe it correctly. For example, my boots don't slouch. They hold there shape but the leather is smooth flexible. My chaps have "pockets" were my knees are but still have a substantial feel to them and they are not "droopy". When I think of the oils I used in baseball glove and such, the leather had a slightly "wet" fell to it. Not so with Bicks. Other swear by Lexol and it has a strong history, I have just not gotten around to trying it as I am happy.
Also, since I seem to have so much leather, I used a car washing "mit" for applying Bicks. I tend to do all of the leather in a batch and with the chairs in the house and the wife's chaps, jackets and boots, plus all of my stuff, it makes it much faster. I keep it in a zip top bag until the next time.
I am also a big proponent of "303 Aerospace protectant". I use it on my seat and all the black plastic and my leathers ( a day or two after using Bicks on the leather). It is not a conditioner, but a UV blocker and it has a dry feel to it. My ride sits in the sun all day at work so I wipe the seat and plastic down weekly and I have had minimal to no fading after several years. Again, it has a smooth dry feel to it. Not an oily or film residue. The only thing that has faded are two buttons on my radio for some reason.