"Wheel bearing grease" is still sold only because of tradition. A few  years ago, I was very active in SAE (Society of Automotive Engineers).
Had several good friends in different automotive areas. Had several  discussions on this subject, and there was concurrence on the best stuff to use - Sears Moly grease - the sticky, thin grease that Sears sells in  tubes for chassis lube. People agreeing on this included two lubrication  application engineers from different oil companies - both agreed that the Sears was the best stuff to use. One commented that he could get anything that his company made for free - but he bought Sears grease for his wheel  bearings. Another person agreeing on this was a long-time bearings application engineer.


If you put Molybdenum grease in your wheel bearings, they won't last 1000 miles.
I have the evidence if anyone wants to see a picture. I ran out of wheel bearing grease, and put Moly grease in one bearing. The other three are still fine, but the one with the Moly grease is wrecked. If you look at the  recommendations on web-sites or grease tins, you will see that Moly grease is meant for oscillating bearings, not rotating ones. The current wheel  bearing grease is called LM2.