That's interesting...thanks.
I know the product you speak of, been using it for close to 30 years on vehicles, my own, and others.
It's called Collinite #845 Insulator Wax. And it is a fantastic product! But......
Problem with most wipe on, and wipe off products, such as this, which is a hybrid product (both natural and synthetic) is powdery residues being left in every nook and cranny that's almost impossible to get out.
Now, if you want to rip a component down to every last piece, then yes, one can perhaps apply such products and then fully remove them.
In the instance of my Bryston 7BSST2 Monoblocks, I surely don't wish to be yanking Faceplates, Rack Handles, LEDS, Cooling Fins to get the job done right.
One reason too, with my musical instruments, my bass guitars, my drumset, I'd use such if I was going to unbolt every last piece of hardware, lugs, cymbal brackets, etc, or on guitars, all tuning keys, bridges, etc.
There are protectant products on the market today, referred to as "WOWAs_ Meaning wipe on and walk away.
Some makers are Optima, Ultima, and some Palm Beach Motoring products. (Blackfire, Wolfgang)
They leave a lot less in the way of residues that might prove difficult to remove from tight areas. They almost work like a detailer spray, but with much better protection.
My alternate method of reducing such a need for constant cleaning, is I had fitted vinyl covers made for everything in my system. I've shown some pics in another thread here. They were worth the cost IMO.
A little more time to uncover, and recover, but I know when those covers come off, my equipment, like my Bryston Mono Amps, look just like the day I unpacked them from their factory boxes. They stave off dusts, and as well any UV damage occurring. I figure the less any cleaning needs doing, the better.