There are a lot of opinions on what is adequate care for leather. I have personally tried 2 over the counter products and one that I made myself.
Tandy- Super Sheen. This is an acrylic based finish that leaves a high luster. I don't care for it because there are frequent reports of fogging, crazing and cracking. It also doesn't allow the leather to breath as it is a sealant. I also don't care for the way it stiffens the leather. There is also a satin version of the product, I haven't tried it, but I'd probably prefer it as I don't care for a high sheen.
Fiebings Tan Kote- I use this soley on the experience and tastes of other craftsmen that I respect. I don't care for the high luster or the way it stiffens the leather.
Beeswax/coconut oil- this is a mix made using a double boiler to melt and emulsify the two ingredients. This provides excellent protection from the elements, however, I'm not certain about how long it lasts. My first sheath had a single application. It has been used hard with little regard to the elements and has proved to be quite nice over the last 6 months. It may fail after next week, I have no idea, but a 30 second re-application should bring it back to working condition. The ratio of the mix should look for a melting point lower than the wax alone, but much higher than room temp. The jar that I have will melt from a hair dryer on high, but not so much out on a summer day.
Those are things to consider for fresh untreated leather.
For maintenance, I use a very light application of Neatsfoot oil. Others like mink oil.
As for shoe care products, I have no direct experience using them on a sheath. That being said, I would guess that they would be adequate. The companies that make them (typically) have spent a ton of time and money on research on development of the products. There are plenty of very expensive products marketed for specific uses, but shoe and boot care is similar enough to our uses, I have no problem recommending you try them. This view point is my own, but it is well echoed by experienced leather craftsmen on another (leather focused) forum that I also frequent.