The coating covers the grain so it appears to be like paint. Could be milk paint as other reply stated.
Sundance certainly are not shy on their pricing. Way too much for such a simple design.
Is this board going to actually be used for cutting? If so paint would should the cut marks immediately.
Stain does penetrate some, but does not go deep. Stain has pigments which contain the colour.
Dyes penetrate better, but still depends on the wood species. The dyes are colour disolved in a solvent. The wood absorbs the solvent, and when it dries, it leaves the colour behind.
Hard maple for example will take a dye better than stain, but it will not go deep.
If the person wants some colour AND wants to use the board for cutting, I would use woods which have the colour.
This is an example. The main slab is hard maple. The vertical stripes are bubinga. The dovetails are rosewood. The edge is pommele sapele. All of these are the natural woods. If this board were to be used for cutting, the cuts would show, but at least would be the same colour.
Also the board would be re-sanded and re-finished with ease. Not easy with paint/stain/dye.