This stuff sounds like having a shag carpet sprayed onto your walls. Might have been a cool effect for a bachelor pad.
Unfortunately I can't find any pictures of what it looked like, so I can't tell how awesome/disgusting the stuff really was. I bet the fibers would get easily torn off, and then how would you patch it?
It seems to have disappeared from the market sometime around 1970.
It makes no difference whether you want your house painted or not; whether you want to use Sherwin-Williams or another brand; whether you plan to do it yourself or employ a different company. None of this counts in the face of O. J. Wangen's plan for world domination. "Let us have our way... We will have it, all or part of it in the end."