Like mentioned...you gotta really put on the coats regardless of what material you use. My door jambs and galley edges look like molded plastic, absolutely no sign of an end grain on them. I think a number of people get tired of doing the prep work prior to coating and then don't apply enough material to coat it out and figure "that ought to be good". Sort of one of those take the time now, or re-do it later things. To each their own.
In my experience with boat building , the serious custom wooden boat builders today use epoxy on their builds above and below the water line. Doug