I've done some rejuvenating of some of my old leathers.
I like to start with Neets Foot Oil but be warned, there is lots of bogus Neets Foot Oil these days and the real McCoy is extremely hard to find.
I found Fiebing Pure Neets Foot Oil, although it's from both pig and cattle shin bones, unlike the classic all cattle shin bone stuff.
There is something about those shin bones that works on leather!
I have found that clear boot crème makes a good finish, and the surface haze can easily be buffed off so there is no sheen or tackiness.
My guess is that bees wax would clog the pores, and prevent future applications of oil from migrating in.
Considering that classic Belstaff suits of cotton were water proofed with a bees wax based goop, makes me doubly concerned about clogging the leather.
I have tried other rejuvenating formulations, but I have not found anything even close to Neets Foot Oil in terms of penetration, benign “nose”, and effect.
I bought the Feibing on line as that was the only way I could access it here in Canada.
Fiebing is in the USA.