Tar, grease, soap, graphite and quicklime. Interesting. Graphite and aluminum are at opposite ends (bad) of the electrochemical series, right? That seems suspicious. But graphite is common in other goops. Quicklime is a voracious consumer of moisture. Like plaster. Whatever quicklime does in...
Well … @slug zitski and @mgs that LOCTITE 8024 has NO metal in it. (Ask me how I know) :)
As for helping the mast shoe? It might. Probably not. Apply monthly? Not likely.
Where aluminum fits tightly it is going to corrode because it wears, is wet, etc. Many boat parts are meant to be renewed...