If I want waterproof, I wear rubber boots.
Just my two cents. There are lots of controversial aspects about this. I "read" that it is undesirable to clog ALL the leather pores in an attempt to get 100% water proofness. I read that some products are bad for leather and/or the stitching. Is mink oil and other things like "Bear Grease" just marketing and don't reflect the ingredients? I had numerous boots crack (leather) using SnoSeal. Someone told me SnowSeal is simply wax thinned with mineral spirits.......i.e., no conditioners. True/false, who knows:
https://www.cfd.coop/msds/1791333, 1791330 20151208 Atsko SNO-SEAL USA.pdf
On my workboots, I choose to use Obenauf's. It does not waterproof entirely. It claims to have conditioners. White's boots recommends their re-labeled Obenaufs as "best" for their $400+ custom work boots. My logic is "if it's good enough for Whites............."
In the end, it seems that one's choice is based on which "kool aid" you drink/believe. Good luck.