I have used Drylok waterproofer in a home we built years ago and it worked well. My basement was constructed of block and had been waterproofed with a footer drain to a sump. Even so, I had considerable visible moisture on the wall at certain times of year. The drylok eliminated the moisture allowing me to finish the space. As far as I know, the moisture ran down inside the block and eventually reached the drain system.
I don't think drylok is a subtitute for proper foundation construction and backfill, but even well constructed moisture barrier systems can have gaps or backfill that is not as intended. In my case, I think some clay collapsed into the foundation before the waterproofing and gravel backfill were completed (winter construction). Drylok seemed to deal with moisture intrusion enough to make the space useful and prevent problems.