I bought this, not for my studio actually, but for treating the acoustic in the apartment and this has been the best investment so far.
It looks good and it damps the reverb in the room with a pleasant result without being annoying for your ears.
That said it can be used as well in a studio if you have reflective areas where you need to dampen your sound, especially in the mid areas.
Instead of using tape like I know a lot of people use, I would recommend to buy the Acoustic glue that Thomann sells to glue it to the wall. Because over time the tape will fall off because of the decreasing and increasing temperatures in the studio, but with the glue it will stick and when you have to move some day, you only need to use some hot water to remove the glue and the wall is as good as new.
Link to the glue im talking about: