There are plenty of recipes online for making your own hard wax (and soft wax) finishes if you want to try it. It's nothing too special, unlike what the pricetags want you to think. Tried & True Original (linseed oil and beeswax) would be considered a soft wax finish. I use it. Christopher Schwarz/Lost Art Press freely publishes the recipe and process of making their soft wax finish. Hard wax finishes contain carnuba wax, the hardest natural wax with a 180 degree melting temp. Soft wax finishes are typically beeswax, or maybe paraffin.
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1- Oils penetrate and cure within the grain, and enhance the appearance of the wood colors. After several coats they can't penetrate any more and cure on the surface.
2- Resins stay on the surface and create a plastic film, a protective wear layer on the wood surface. (Oil or water formulas are the carriers for the resin.)
3- Waxes stay on the surface, but only in the micro scratches which will otherwise scatter reflected light. It makes the surface look, and probably feel smoother. It is not a long-lasting finish, it wears away and needs periodic re-application. It can be used on any kind of film finish.
This 3-step process is arguably the best way to finish wood. Or, pick 2 steps. Or a single step. No right, no wrong.
But I'll contend that even though mixing the components together into one product may work just fine, the all-in-one blend of oil, resin (or not), and wax may compromise the strengths of using the 3 components as separate steps of a process. Again, there is no right way, no wrong way, just different ways that have strengths and compromises. Pick your poison. Something that is new, something that is different, is not necessarily something superior to that which is time tested.