In zone 5 you'd be fine as long as the siding is back ventilated (rainscreen, or vinyl or aluminum siding) with either fiberglass or cellulose and no interior vapor retarder other than standard latex paint. In zone 6 or higher you would need a Class-I or Class-II vapor retarder on the interior side of the insulation layer. You could probably get away without the interior vapor retarder in zone 6 with cellulose (even though it's technically a code violation), but with fiberglass or rock wool there is no question- it needs an interior side vapor retarder, and the wallboard needs to be air-tight.
Using 2 mil nylon as the vapor retarder gives you a bit more resilience than using "vapor barrier latex" primer, and quite a bit more resilient than 4 or 6 mil polyethylene, since it becomes vapor open when the air in the cavity is damp enough to promote mold growth, offering measurably higher drying rates.
The generic rule on wall asseblies for zones 4 & higher is that a Class I or Class II vapor retarder is required. The IRC's take on wall assemblies with only Class-III vapor retarders (like standard latex paint) is
spelled out in R702.7.1. With vinyl siding and plywood or OSB sheathing it meets the "Vented cladding over wood structural panels" criterion in zones 5 & lower. In Zone 6 it would work with vinyl siding if a more vapor-open sheathing than OSB or plywood is uses, such as exterior grade gypsum board or fiberboard.
Note, kraft facers on batts are also Class-II vapor retarders, and would meet spec. But they are literally impossible to air seal, and make inspecting the insulation installation quality nearly impossible. Broadsheet goods are more reliable, and allow the insulation job to be inspected. The long standing standard has been 6 mil polyethylene, a Class-I vapor retarder, but the extremely low vapor retardency reduces overall resilience by blocking drying toward the interior. The variable permeance of 2-mil nylon makes it cheap insurance. The material cost of 2-mil nylon is about 2x that of 6 mil polyethylene, but the labor is the same.