Candle wax has got to be cheaper than a $600 magnetic induction tool (LOL), but that said I am fairly sure that a Project Farm testing video pretty much debunked that claim, at least testing against other commercial penetrants.
PB Blaster and Seafoam Creep did great in those tests !!!
But I do like the tool above for working in tight places without destroying adjacent rubber or plastic burning down the whole vehicle !!!