What I have learned through my own experience and reading other people's experience is that everybody's case is different. I don't think it's fair for somebody to say that there is no way this method can work because it didn't work for them. I think it all depends on what specifically is causing the issue. Getting a biopsy and detailed allergy tests done are probably the two most important things you can do.
I tried the leave it alone method for two months and actually took a medical leave from work. I basically isolated myself for two months while the doctor prescribed an anti-fungal, antibiotic, and steroid cream. My condition did improve somewhat but nothing substantial. The thing was, I couldn't know for sure until I tried it. Obviously, the method of wiping off the excess each day had not worked either so I thought it was at least worth a shot.
I've been seeing a doctor at the Mayo Clinic and he has now prescribed Aciretin. We started off with a very small dose because it is known to have some side effects, but now will be increasing the dose to see if it helps/cures my problem.