I've never tried ballistol so I have zero experience with it and can't personally comment to its effectiveness.
Just for conversation about lubing in general I have noticed some posts over the years from some diehard ballistol users...who then go on to say that they double check their bores every couple days afterwards.
Personal opinion is I think there are so many variables involved with the maintenance of any equipment that to simply say "a product"...(ANY product)...is an end all choice across the board might not necessarily be the case.
Differences in individual's degree of attention to details, ie: is a bore or lock REALLY 100% clean before lubing...are they REALLY 100% dry before lubing...because from a scientific point of view, if something is 100% clean and 100% dry any lube will do as long as it stays in place to insulate the metal surface from the air which contains moisture.
Also differences in environmental conditions from one part of the country to another enter into it...ie: is the storage located in an area that's well maintained with heating / air conditioning, etc.
For example, I buy aerosol cans of WD40 by the case...have used it on bores & hammer / trigger mechanisms of many modern Ruger, S&W, Remington and Marlin firearms starting back in the '60's/'70's...and then a couple dozen muzzleloaders for the past 20 years...as far as I'm concerned its fantastic stuff.
Yet there are those who say its no good, claiming it leaves gummy residue and causes rust...yet I've used it constantly for almost a half century and never experienced those WD40 claims in my 65 years on the planet.
So how can that be? Is it because I live in North Carolina? Because my house is heated and air conditioned year round? Because I am almost fanatical about 100% cleaning and drying before lubing...to what some call an extreme of removing the frizzen every time to clean and lube all its contact & pivot points?
I couldn't have simply been 'lucky' my entire lifetime...so it’s a puzzler to me. I guess the bottom line is once a particular product and cleaning/drying/lubing regimen is proving to be 100% reliable and successful, it’s a keeper for that person in his/her environment.