What i find most interesting, is, that olive oil does a equal good job as the paste, but does drop quickly with thickness.
Remember that the ages old wisdom that paste is only meant to fill microscopic gaps is still true. Pastes have pretty poor thermal conductivity - datasheets of proper products do show it. Not much better than any random skin lotion.
This is because paste won't be mechanically strong to offer any kind of reliable electrical insulation even in thicker layer, so there is
no point of making it thick. Therefore, there is no incentive to make it thermally more conductive. In very thin layers, what it is is enough.
This is totally different with thermal pads and especially "gap pads". Unlike grease they respond to the market need of providing electrical insulation, and part of that is adding thickness to safeguard against tiny dirt particles etc. puncturing through the pad, compromising the electrical safety. Gap pads specifically are designed to fill in gaps e.g. when heatsinking different height parts to one heatsink.
Now with layers that are intentionaly tens if not hundreds of times thicker than any thermal paste layer, it is worth engineering effort to get into thermal conductivity range of 2 - 20 W/mK which still sucks compared to pure aluminum but isn't that bad at all for something which is electrically insulating and soft.
Paste can be 0.2-0.5 W/mK and everybody's happy with it. Except those who try to fill gaps with it against the ages old wisdom.