What is it with WD-40?

Why do people think it's a good lubricant and insist on using it on things that a real lubricant like PB blaster or Kroil should be used on.

Today I got home from work and the neighbor was trying to open a rusty gate for the first time in 20 years. I went over to help him and he said "let's use wd 40 on it. So he sprayed some and it didn't have any effect. Then I ran over to my shed and got some pb blaster. The pb blaster immediately made the rust "muddy" and we were able to muscle the gate open.

Why are people stuck on WD 40 when it's not a real lubricant.
WD40 has some lubricant qualities but it aint the best and is not a lube substitute. Someone told me PB Blaster was WD40 with some acid added? Use WD40 to spray down wet cable, distributor caps, and as a dielectric wash. Works great on wet phone cable.