It's a very fashionable finish, unfortunately some of the best matt finishes I've seen are specialist sprayed lacquers.
For home use water based pu is probably your best bet, but if you're chasing absolutely matt you'll likely be disappointed. For one thing it's not all that hard (matt finishes from a tin are often a bit softer), I've found it burnishes in use and acquires a sheen. The flattening agents are usually the heaviest element so sink to the bottom, therefore you need to be scrupulous about stirring or else you'll get an uneven level of sheen as the job progresses, one trick you can try if you're chasing the most matt possible is to let the tin (of whatever you're using) settle for a few days, then gently pour off the top third and dispose of it, the remainder will then have extra flattening agents.
The golden fleece for a lot of furniture makers today is a dead matt, water white finish that won't yellow pale timbers, and strongly resists UV to maintain that look for many years. It's very much a work in progress but many of the most promising results do seem to be sprayed. I sometimes apply a very thin coat of well cut blonde shellac to the inside of cabinets, as long as you don't go beyond one or two coats the level of sheen is pretty marginal, but sadly so is the level of protection! I'm experimenting with Aquacoat grain filler at the moment on Ash, and that holds some promise, but again it's not nearly as matt as I'd like.
When I built my current workshop I made a conscious decision not to have a spray room, if the bespoke furniture market keeps drifting towards ultra pale timbers with ultra matt finishes that may have been a mistake.