When Meltonian Shoe polish was discontinued about a decade ago, it was supposedly because it had been purchased by SC Johnson, who then tried to change the formula by removing the petroleum solvents, which screwed up the Meltonian brand, do SC Johnson then discontinued the brand.
SC Johnson gas since discontinued the Kiwi shoe polish brand, although they just cited lack of demand.
Johnson paste wax would have similar solvent issues as the above products.
The other possibility, is the the waxes used ran into price rises, or some other issues, maybe purchasing scales, and it was easier to just discontinue all the wax based products.