I would do what it says on the label. With stain, applying a second coat can lead to surface deposits and sometimes a sticky mess that will not dry. My semi-transparent Cabot oil is flat and will wet not bead up so well. It was Deck stain. Not sure if it is also for siding. I also used a product called Australian Timber oil on the bench on my deck. That does bead up and I will use it for the whole deck when it is time to refinish. It wears just as well and looks better in my opinion.

The "Beading" effect is a TOTALLY meaningless parameter to deck stain quality and wear.

The ONLY reason S/T stains bead temporarily, is that the stain is still "at/near the surface" of the wood, and all solvents aren't evaporated-off yet.

Just like a waxed car, the effect is only temporary!

Surface water doesn't hurt a deck....AT ALL...unless it's soaking for days on end without drainage. Even then, once the wood dries-out, it's fine!

THE SUN, followed by surface traffic, is the great destroyer of wood fibers.
Simple as that.

Faron