I prefer a lighter oil in most cases. It gets to where it needs to go and leaves what needs to be left: a light coat.
Check out this article from 2006. It was written for the gun community, which has long suffered a similar "snake oil" situation. Some of the same stuff applies to knives and the article covers basic principles of lubrication that are worth understanding.
I switched over to that Lubruplate FMO 350-AW for my wheel guns a decade ago and haven't looked back. I started using it on knives and multi-tools shortly thereafter. Unfortunately, the availability issue applies again. It is available in a spray can or a gallon jug. A company called Lubrikit was selling it in 4oz. bottles but they seem to have gone under during the pandemic. Even at their 4oz size, the price was a
tiny fraction of what KPL costs per volume. I still have about an ounce left from my last order a few years ago. If I can't find a better source, I may just pick up a gallon jug. If I do, I'd have a lifetime supply with plenty to spare. I'm curious to know if anyone would be interested in a share if I do.