WD40 is absolutely a lubricant. The WD40 is not a lubricant thing just needs to die already. Of course it’s not the best lubricant for every job. In fact it’s probably not the best lubricant for any job, but it’s a good enough lubricant for many jobs. It’s also a penetrant and water displacer. Versatile products usually aren’t the absolute best choice for a given use case, but that doesn’t make versatility bad.
Definitely will debate lubricants for days, but no one who is in the industry uses standard WD40