Cheaper vinyl plank looks (and sounds) like plastic, but more expensive versions have good wear layers and will look more realistic. You want a commercial grade or a very long warranty to hold up in the kitchen.

Vinyl planks are not fully water proof...the seams are not water proof. They are water resistant...but too much water sitting on a seam has the potential to move down the seam and hit the subfloor = subfloor damage.

A sheet product (such as vinyl or linoleum) is water proof. In both cases, the subfloor needs to be VERY flat, smooth and even. A glue in place vinyl plank is a much higher end product than a click together or "loose lay". The higher priced products will get you a higher level of flooring.

Vinyl is not perfect. It can be damaged or "upset" with excess heat. Vinyl (especially lower grade vinyl) can warp in direct sunlight or when over heated. This is rare but can happen.

Vinyl is an excellent option but the price point will tell you what level of floor you are getting. If you need "water proof" (like under a dog's bowl) then a sheet vinyl is a better option...but not as pretty.

If you have the budget, have a look at CoreTech vinyl. Fascinating product with an above average price tag. Easy to install.