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I use Hydro-Seal 75, a 2 part waterbase epoxy that does not peel because it allows vapor transmission. Your right to a degree, many do peel because they don't breathe.

Hydro-seal 75 does breathe and is great for sealing basement walls and floors.

Hydro-Seal 75 also is available with Anti-Mold additive, stops 40PSI, and is easy to apply with rollers brushes or airless spray.

This is the most economical, most effective coating I have ever used for sealing and patching basements(just add sand mix or Portland Cement for patching). Plus is provides a great looking finish to even the ugliest basement walls. Nice colors like white, gray, light gray, beige available. The one gallon kit is idiot proof, mix entire contents and paint on in 40 minutes or less

Works on stone foundations as well. Great to work with; no odor or solvents. 30 to 40 minute pot life after mixing. Great stuff