Wet multi plate clutches have been in use for many years however the correct type of oil is required to give best results as a thin film of oil is coated over the clutch plates this assists in clutch binding by providing a suction affect between the friction and plain plates (similar to a bit of moisture on a rubber sucker on glass)
the wrong fluid type can cause the suction affect to slip or be to harsh causing clutch slip or drag
so best always to use oil that has been formulated for the purpose
Brian