Proper leather shoes

Depends how hard you rub, and how they were made. Normally the first light rub with the alcohol takes away the gloss. Try not to leave swirly patterns By pressing too hard or not swapping the paper often enough.

In general a shoe's dye won't come out with IPA, because it's not bleaching or stripping like more abrasive or toxic liquids. If you were too generous with a shoe wax you can remove a lot with IPA, but for example if you use oxblood on light tan leather, the leather will forever darken.

Beware they will be dry after the alcohol, and you need to use some leather cream or cobbler's, or whatever.

If you don't want military shine then apply new wax or cream and work into the leather, and then don't buff.

Probably you will apply wax, and say 'what the heck' and polish a little and the next thing they are mirror shine.