I've heard the advice that WD40 is designed to repel water, and hence, it can supposedly be used to mitigate water damage in electronics. Such as for a device that was submerged, instead of simply allowing it to dry, which might take a very long time, especially in tight places, under components, etc, and allow more oxidation to occur. Spraying WD40 into the device and the tight spaces, supposedly mitigate this problem to some extent.
Is there any merit to this at all, or will it simply make the problems even worse?