Lee wax works very well on bullets, reduces copper fouling and reduces the Standard Deviation to single digits. The explanation is simple, coatings reduces the friction that it takes to get the bullet entered into the barrel. Thus, instead of a pressure spike to get the bullet started, there is a more slow gradual build up of pressure. Norma has done exhaustive testing on the use of moly and carnuba wax on their bullets, the barrel life increase is substantial.
Later on, it was discovered that the use of the wax only was as effective as the moly +Wax, but the Carnuba wax they were using had an abrasive in it that eroded throats. So, just the use of the Lee Wax on bullets is very effective. Since a tube of the Lee wax is around $3, there is not much money to be made by promoting wax, so it never had an incentive for a company to promote.
When I was making benchrest bullets, I used the Lee wax cut 50/50 with water to lube my bullet jackets with. I just left the wax on the bullets, then re tumbled the bullets.
Guys that shoot a real fast 17 caliber can really benefit by using wax on the bullets as it cuts copper fouling in half extending shot strings inbetween cleanings.
Guys that use Moly and Hbn would benefit greatly from the use of wax.