It ain't only good for it, but it does a way better job at getting the chain clean compeired to alot of products out there that is ment for cleaning, and at a waaaay cheaper price!
That logic sounds flawed... When cleaning the chain, it's not just old lube that'll be dirty on there, the dirt will "grow" stuck on the chain itself, so just "pouring" some oil on it and hoping it'll dissapair on it's own when driving is wishfull thinking. You'll have to get in there, get nice and dirty, to actually get the chain cleaned, rather than just "dusting" it a little.
What I've done thus far: Put a jack under the exhaust, and just lift it enough so that the tire comes off the ground, makes things way easy on yourself. No absolutt need, ofc, but convinient.
Some say to not clean/lube the chain when cleaning the bike itself, but I've slightly ignored that. When I'm first gonna get drity cleaning the bike, then the whole bike's gonna get's a cleaning in one go.
Clean the bike first, so you don't end up washing away some of the lube.
I went to a local shop that has bits of everything, and got the paraffin there, some fluffy towels that I folded and sewed so that I can use it as a "glove" of sorts, soak the towel, and start rubbing that chain. If it's really dirty, then go over the chain first with a brush, the one janesdaddy
mentions is a good alternative.
When you've gone over the whole chain just simply lube it up again.
You could use a "towel glove" for this too, so that you'll apply what you need, and the excess will be wiped away at the same time.
Don't drown it when you lube it thou, you'll end up with it getting all over the place, and you don't want that..
So not too little, but not too much either.