My days of fussing with exterior teak are over. I no longer feel the need to impress anyone, my time is more important. I painted my exterior teak white and have not looked back. Either that or you could leave it bare.
Were I a naval architect I would never design a boat with exterior teak.
The downside to teak oil is how often it needs to be applied to keep it looking decent. There is no magic bullet. There is only stuff you either brush on or wipe on which is less or more worse than the other stuff you wipe or brush on.
Inside and out of the weather
, sure, teak is beautiful and needs very little maintenance
Being real cynical here, teak seems to be put on boats to keep the unwary at the dock
and off the water