I hate to wake up this thread, but my experience is completely different than most of what I read above. I replaced my entire drivetrain with Sram eTap Red AXS in February. I completely stripped it of all factory grease and have run it waxed only (Molten Speed Wax and my own paraffin and additives from the published recipe). It is BY FAR the quietest drivetrain I have ever heard. My wife runs DA 9170 and I can hear her chain much more than I can hear mine, and hers is waxed also. Most of my friends are running DA or Ultegra, also MSW, and they all admit that mine is amazingly silent. I have 6k miles on two chains and they aren’t even close to the 0.5 mark on the chain measurement tool for wear.
My advise is to make sure your chains are completely stripped of grease before waxing, always clean with a heated ultrasonic bath (62C to completely melt the wax) and dip in a crock pot. It’s really easy once your bike and chains are stripped. I’ve run wax for 3 years now, but there is no drivetrain out there that comes close to the silky silence I’ve experienced with AXS Red. Btw, I run a Force AXS chain because they seem identical, but I’m probably wrong about that.