I just read an article about why oil baths are bad when used on boat trailers. I don't know the facts but here's what he says.
They work great on big trucks but a boat trailer is entirely different.
The main thing was that unlike a truck, a boat trailer will sit 95% of the time, especially in the winter. All the oil runs to the bottom of the hub and the top bearings can gather moisture and rust. He recommends rotating them at least every couple of weeks.
Next, going down the road the bearings get hot. Then you submerge them in cold lake water. The rapid cooling can draw moisture into the hub.
ARTICLE