The Sri Lankan Chili Red is a simple pepper. To me, it doesn't have any strong flavors to characterize it other than being somewhat sweet and juicy, with a decent heat level. There's nothing there to offend you, but there's not much else that stands out. I found it's heat level somewhere around that of a Jalapeno.
I enjoy dicing them up fresh, and adding them to something I'm eating or cooking.
I like this pepper, and I'm growing it again this year, but I think people struggle with what to do with this pepper aside from using them fresh.
There are other peppers that make more sense for powders, ferments, and pickled peppers.
I don't even worry about trying to preserve this pepper. I have other pepper varieties for that. I'll use them in-season, and if some of them go to waste, it' OK.
Another noteworthy thing about this pepper is it's anecdotal reputation for spontaneously crossing with other pepper varieties. For two years in a row, I've grown three or four Sri Lankan Chili Reds, and I've had one turn out crossed each year.