Factory lube is put there with the primary purpose of preventing corrosion on the chain not necessarily with being the best running lube. That's why it's so gummy feeling.

In the last few years there has been a lot of innovation in lubes in terms of adding PTFE and with some nanotechnology additives. If you read the Friction Facts briefs (you have to buy them), you can see that there are serious differences in lubricants.

FWIW, just week before last. I replaced the chain on my bike with DA chain. I ran it to see how good the lubricant from the factory was. That lube started making noise after about 100 miles. I then replaced it with the new Mac-off lube I wanted to test. After 200 miles it's still quiet and, amazingly enough, it's still clean. So there is clearly some difference in lubrication and it's pretty clear which is the best lube and it most definitely is not the lube that comes on the chain.

J.