These patents shine light on what’s going on:
Silicones sink down to the surface crevices
So either waxes to prevent them from sinking below the surface, or a lot of silicones 20-40% are needed to fill said crevices.
Furniture polish compositions based on silicone oils also suffer from a phenomenon known as “mottling”. Silicone oils tend to migrate into lower areas on the wood surface, such as imperfections (scratches, chips, etc.). This migration creates dull spots in the polished surface, or mottling. To prevent this migration, wax is added to anchor the silicone molecules to the surface. Ratios of emulsified wax:silicone oil as high as 1:1 have been used to anchor the silicone. However, the emulsified wax contains solid discrete particles which decrease the clarity of the resulting film or finish, and the hardness of the wax particles increases the amount of time and effort to buff the film to a shine.
https://patents.google.com/patent/US5681377A/en
Two patents, U.S. Pat. Nos. 6,221,433 and 6,206,956, by Muntz et al., describe siloxane automotive protectant compositions which contain about 10% to 20% by weight of organopolysiloxane and having comparable or improved gloss performance to comparative examples with 20% to 40% by weight of organopolysiloxane. Although these protectant formulations are an improvement over the previous protectants, there is still an opportunity to lower the amount of siloxane in the formulation to levels of less than 10% to achieve a cost savings while maintaining good gloss performance.
https://patents.google.com/patent/US8974589B2/e