Wet stacking is real, just not on every engine and not under every condition.
I used to run an over the road truck (Mack) and if I let it idle for a long time, especially in cold weather (below 20 deg), raw fuel used to be visible running down the outside of the stack. Very real.
That wet fuel is everywhere in between the end of that exhaust pipe and the valves in the head.
Now, when you put that engine back to work, under a load, especially if it has a turbo, you can get flames coming out of that exhaust. Not a good thing, and on a big engine, it can melt and warp things.
If you run it easy till everything heats up and evaporates that fuel, no problem.