Agree with Steve on that. I should have referred to it as a "life extender" or "rust-slower-downer" when I mentioned rust.
It's not proof of never rusting, but between the lube and any paint I use and on some bolts even renewing it every few years, any of those things will help keep rust at bay a while longer than just being bare.
Then again, in dry climates and driven vehicles that don't sit a long time outdoors, rusty bolts are not always a huge issue even when hidden. The do rust of course, but usually just surface rust and can still be threaded out relatively easily even years down the road.
It's those decades down the road that end up being a pain even in the dry areas, and I've found coating the bolts with something will help extend that usable period some.
Frankly, the tiny amounts of anti-seize I used on some fasteners probably does not inhibit rust as much as the paint I use on most, or the plating on new bolts, or changing to stainless where it makes sense.
But I'm still in the "if it helps, do it" category.
Paul