I mean better than any "wet" lube, of course.
And this is indeed a fact, because the trick is not in exact composition, but in consistency (kinda like silly putty) and "tack".
It will create an o-ring of sorts, that will greatly impede water ingress into friction (pin-plate) interface, something no wet lube will ever do... and neither pure paraffin wax, btw, because it is brittle and does not adhere to metal, so lacks any "staying power". So yea, I don't need to test all wet lubes to realise that none of them will really work (except as grinding paste 'base') in those conditions
I appreciate your attempt to be witty, but your recipe will also work, btw:
Olive oil is an excellent lubricant (though castor oil is better for a number of seasons, I've tried both), floor wax is basically beeswax and carnauba/candelila wax (tried both, admittedly former makes the chain stiff and seem to be suboptimal unless added is really small dose), and earwax is a mix of fatty acids and cholesterol, not unlike lanolin (minus the dead skin, but you did mention "pure" ear wax, right?) - and it is also a great lubricant, actually used in some very demanding applications. Yea, tried that as well.
Tribologic science is fun, I've spent some time reading tribology journals while doing my own research and experiments.