yeah, you could use it. the tip is actually aimed and keeping the paint from freezing before it cures. much paint already has a small amount of ammonia in it for this reason.
except.
you can't put the paint on over condensation, snow, etc. won't stick. morning dew is death to painting.
and you can't have the paint uncured while evening dew, rain, snow, etc. is falling, or it will be washed off or the finish wrecked.
so if you have a 20-hour day of sunlight above the dewpoint, and paint on dry siding, yeah, that will work.
if not? -- well, uhhh, tip topples.
this might make sense if you were doing a garage wall inside, or the back entry, with a little fan and maybe a milkhouse heater going. not outside.
sig: if this is a new economy, how come they still want my old-fashioned money?