Ok ... whatever ..... it SEALS the "electronics" by coating them , FROM the water ....
Better now ?
And FTR - it "displaced" the water pretty good on mine when my mono took a dunk ( straight down to the bottom ...
And seeing how I run OPEN servos in all my boats ( meaning no radio box ) , to me , the CORROSION X 'water-proofs . ( or as you are saying - "displaces" the water . Which is fine , but which ever wording you choose , it still prevents the water from wrecking havoc on your electronics and possibly causing signal IF , or loss of control over your boat . )
If you meant that you would STILL have to dry out your radio gear , then , yes , by all means , you are correct . This does NOT provide a seal on the plastic casing on either the Rx or the servos , but rather JUST the electronics parts .
So , maybe my choice of wording was improper , but the over-all effect is that your electronics don;t get ruined , shorted , OR get messed with IF you DO get water inside them .


( better ???? )