You can do more harm than good with this procedure. Burned powder and other particulates will accumulate in excess lube possibly causing a malfunction later that you wouldn't have had. I've seen guns that people spray with WD-40 after every mag that have so much gunk in them you can't force the bolt to operate. That's an extreme situation but it shows the tendency of wet lubes to attract and hold matter that can often become a problem. Lubes with teflon build up on their own as well. The teflon will build up.

I learned about this the hard way on a bicycle actually. I sprayed the gears with a teflon based lube before I rode the bike and eventually the chain would skip gears and come off completely because there was so much buildup between the gears. I don't know why I didn't notice it but I didn't. At any rate that was a much worse situation than a firearm could ever tolerate. I actually started to buy an SKS once that was so gummed up the bolt could not work without considerable force being applied to it and the problem was all gunk buildup.

Dry lube is much better if you can get by with using it. I barely coat action components to keep them from rusting unless I'm going to store the gun a very long time without firing it. I may have left some to rust rather than build up. Rust can be fairly easy to clean up. Easier than fired powder in lube gunk.