Generic PSF isn't really that special of a product. The vehicle specific stuff I'm sure is intentionally formulated for a specific system. But generic stuff is, if I recall, just mineral oil. ATF has detergents, seal conditioners and friction modifiers. I believe it's a superior lubricant - particularly the newer synthetics.
The Valvoline Maxlife ATF that I used has an advertised pour point of -48c. It gets down to -40c (also abot -40f) in my area and regular fluid is as thick as tar. It can be difficult to turn the steering wheel for the first few miles until the fluid warms up. That's really hard on everything in the system - the pump is straining to push PSF that's nearly solid, the seals and hoses are experiencing extreme pressures they weren't designed for etc. I have blown power steering seals out of a rack and blown high pressure lines on other vehicles when on cold mornings, I simply pulled out of the driveway.
Synthetic ATF is not only a good lubricant, it stays much more viscosity stable through a range of temperatures hot and cold, providing less wear.
The Valvoline Maxlife ATF that I used has an advertised pour point of -48c. It gets down to -40c (also abot -40f) in my area and regular fluid is as thick as tar. It can be difficult to turn the steering wheel for the first few miles until the fluid warms up. That's really hard on everything in the system - the pump is straining to push PSF that's nearly solid, the seals and hoses are experiencing extreme pressures they weren't designed for etc. I have blown power steering seals out of a rack and blown high pressure lines on other vehicles when on cold mornings, I simply pulled out of the driveway.
Synthetic ATF is not only a good lubricant, it stays much more viscosity stable through a range of temperatures hot and cold, providing less wear.