Vegetable wax

I have a question.. I know that wax in hair products is no good.. or at least this is what I have heard. I saw on an ingredients listing of a particuliar conditioner- vegetable protein wax. Would this be harmful to your hair since it sounds like a natural ingredient? Or is all wax products no good for hair? I know wax just coats the shaft and makes it look conditioned when in essence it is not getting what it needs. Is this the general rule? C~