Well, I imagine that there might be a small amount of insulating going on, but at 50,000+ volts, it would have to be some darn good insulation to make a difference.
However with aluminum heads, where you have aluminum threads that the plugs screw into, its been my experience that its a matter of when, not if, you have to replace the threads in the head if you don't use the goop.
Torque has not much to do with it.
Sooner or later, you will start to remove a plug and feel it start getting tighter and tighter.
Your best move then, is to carefully reseat the plug until you can make arraignments to helicoil, or one of the other methods, the head.
Steel rubbing on aluminum with no lube will gall sooner or later.
Some aluminum head engines have steel inserts from the factory for that very reason.