That is true. Here's another quote from Mr. Stoops on from that thread i posted.
May 26th, 2015, 03:45 PM
In each of those waxes, however, the primary form of protection - and the primary visual appearance - is down to the carnauba content. Products like Ultimate Wash & Wax Anywhere or Ultimate Quik Wax get the majority of their protection from the polymers used. Any carnauba content in them is secondary, really. The extreme water beading they create is also down to the polymers in them, specifically those water fearing (hydrophobic) polymers added to their formulation that are missing from products like Gold Class, M26 and even M20.