As per
@Wayners ' post. Contract matt emulsions are designed for damp plaster that hasn't fully dried yet. They contain very little latex/acrylic and allow any residual moisture to escape. They are
not suitable as primers for regular emulsion.
The mist coat is supposed to reduce the level of "suction" in the plaster so that the regular emulsion can cure without the water in the paint being sucked into the plaster.
Waterbased paints cure through a process called coalescence . As the water evaporates off, the molecules bond down. Too much suction and much of the water gets sucked into the wall, messing up the coalescence.
Contract emulsions do very little to reduce the suction.
Personally, I just stick with the instructions on the side of the tin with regards to thinning regular emulsion for the mist coat.
Other than contract emulsions being a no-no, over thinning regular emulsion mistcoats paints is a no-no. Unfortunately, there are many people on the likes of youtube that recommend a 50/50 ratio. The worrying thing is that many of them are fellow professional decorators.
Other places that I have seen contract paint used in appropriately- I was working in a newly refurbed property. I was painting custom built furniture. The contractor noticed that the first time they tested the shower, the white ceiling quickly became dark (until the moisture had evaporated). It was obvious that the decorator used contract emulsion. I applied acrylic primer over the contract matt and then applied a couple of coats of waterbased eggshell.
There is a reason why contract matt is so cheap- it is an inferior product.
Sorry- this is not intended to be a lecture. I am mindful of the fact that a newbie might, further down the line, need to understand how emulsions work.