I always stock up when it is available in Aldi and use it all over the bike really, including the chain, gear and brake pivots, shifters and I spray it in the tiny holes in the forks and stays a few times a year and is specifically applied to the paint work to give a nice shine and has never had a detrimental effect on any of the bikes paint.
They are all quite old bikes mind you and modern paint formulations are most likely not as durable as the old stuff.
I know there are those that would not use it on a bike chain, but I cannot justify the exorbitant cost of some of the chain lubes in ridiculously small bottles that are on the market, and GT85 has worked for me for many years now as a chain lube and has got me through many bad winters when I was commuting every day and I intend to continue if at all possible.
All my chains are 7 speed though so maybe its not as critical in these circumstance as it would be with the 'modern' narrow chains with how ever many sprockets we are up to at the moment.
And yes the fragrance used definitely 'says' bike shop to my nose.