I've used kerosene to clean machines and it works to an extent. But as a lubricant it falls very short. The thing about T-F is it is a lubricant that has solvents in it. Not a solvent that can be used as a lubricant, maybe.
Think of it like this; the motor oil you put in your car's engine has solvents and detergents in it to keep the insides of the engine clean. You change it periodically to keep the engine running at peak efficiency. This is the same idea with T-F and sewing machines.
Joe