Not all acrylics are water based. Vallejo is, as are many others. Tamiya, on the other hand, is an alcohol based based acrylic. There are several other brands of alcohol based acrylics as well.
This is a half hour well spent:
I airbrush with nothing but water based acrylics, mostly Vallejo, and absolutely love them! People tend to give water based acrylics a bad name because they don't understand how to use them properly. Enamels and lacquers can be sprayed directly onto bare plastic in moderately heavy coats. Tamiya, being alcohol based, can be sprayed onto bare plastic, but it still benefits from a primer. Water based acrylics MUST have a primer applied first! The primer must be allowed to cure, not just dry, for 24-48 hours. Then the paint must be applied in repeated light coats, building up the color gradually.
Can water based acrylics give a good finish? You decide.
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The TR5-A was painted with Badger ModelFlex acrylics, all the others were done with Vallejo acrylics. And , yes, I built all of them.