I know I use Mobil 1 Synthetic on my guns. I talked to a group of lubrication engineers on a company jet flight and they said good old motor is fine for guns, just it lacks rust preventative. If you keep it oiled, no problem. They were right so far.
I don't disagree with your comments. But being old school, I can still remember going out and getting oil off the dipstick of the IH's to lube my guns. It worked just fine then, and motor oil works just fine today on my guns.
As a collector of big S&W pre-numbered N frames, I have often wondered how my guns ever survived the 1930s to the 1990s without the application and use of the new prerequisite "wonder lube" of the day.
I suggest that the best use for coconut oil is shining up hula dancers.