For the record you don't need much grease its kind of like a coat of wax on a car. It displaces the moisture so it does not want to be in the plug.
Also under normal conditions water is not a problem to electronics with out some thing like salt or sugar in the water. The water can aid in the corrosion process and tat will cause problems.
Also how is shrink wrap water proof?
The water will get into most plugs and thats why they make dielectric grease. You don't slather it on you put a small dab in the contact area.
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