Oh, that’s probably to keep it wet to increase surface area from the wetting action of water and keep the chemicals in contact with the iron and not dry into crystals that are less effective at breaking down the grime buildup

I did some research and it looks like lye does not break down polyethylene or polypropylene, and plastic wrap, at least Saran wrap, is made of polyethylene

https://www.soapmakingforum.com/threads/lye-master-batching-advice-wanted.60822/

https://en.m.wikipedia.org/wiki/Saran_(plastic)

Does matter, it’s disposable plastic wrap, not an integral part of the waffle iron

You can do the same thing with paraffin wax and mineral oil, it’s just less “natural”