I remember my chemistry prof in college telling me about this. You're correct on the name. As the name states, it was originally developed to prevent corrosion on metal parts by displacing the water. And they got it right on the 40th attempt, hence the WD-40 name. Its original use was to prevent corrosion and icing on Atlas missiles.

That's what I use ..... white Lithium grease on my AEGs anyway

I didn't say I use it on the contact components, just the slide.

And I've used the same silicone for hopup assembly for years on dozens of guns. No issues or complaints yet.