Does it spoil faster with wax paper since it is open to the outside air and oxygen and microbes that are about?

You enclose the product in the wax paper and seal it closed with the slightest amount of heat.

Yup. sure, sealed, but is it sanitary enough?

They used to seal jellies and jam with wax over the top. Unfortunately, this method made it more likely that you would get food poisoning (and it is still an issue with home canning, but we are a little safer).

Hence the question about if it keeps out microbes and such.

Can you provide evidence that the wax is failing and not some simpler explanation like "you can pasterize the product plastic and all" or just basic home canning issues? Wax is used everywhere for water/air proofing but somehow only fails in food?