Lacquer is historically correct for Ithacas for one. Another is I can have the finish on and finished in 24 hrs. Put the stain on 1 night, let dry until morning, shoot a bunch of coats of lacquer every 30/40 minutes, wet sand and rub up, done.
Plus it is easier to fix up hunting boo-boos. Just strip and redo.
Additionally, the wood on the standard grade Ithacas is just standard grade, straight grain, suitable for a hunting gun. One of them even has grain that wants to keep lifting up, was a bear to get it somewhat flat. I had to seal, sand, seal, sand.
I cannot justify spending lots of time on a piece of wood that doesn't deserve it.
I have used oil finishes on my BPCR rifles, but the wood on them DESERVED an oil finish.
A couple of these were finished, a couple simply had the stocks inletted
and started to be finished