Nothing ends a day on a trout stream faster than going down on wet rock. Wading boots exist for one job, and it is not keeping water out. Your waders already do that, and the boots fill with water on purpose. What you are buying is grip, ankle support and something tough enough to survive being dragged across gravel all season. The sole underneath is the whole argument.
Felt holds onto slick, algae-slimed freestone better than anything else, which is why guides fished nothing else for decades. It also soaks up water and mud and carries whatever lives in them to the next river, so five states banned it statewide: Alaska, Maryland, Nebraska, Rhode Island and South Dakota. Missouri bans it on trout parks, trout streams and Lake Taneycomo, and Yellowstone National Park has banned it since 2018. Rubber lug soles are legal everywhere, walk far better on the bank, and grip well enough on most bottoms. On polished bedrock they lose to felt unless you screw studs into them, which costs about twenty dollars and takes ten minutes.
Seven boots below, ranked from real Amazon buyer ratings. Star ratings and review counts belong to Amazon's buyers, and the construction details come from the manufacturers. Tom has not worn any of these, so none of it is written as though he had. One thing worth knowing before you order: go a full size up from your street shoe. A neoprene wader bootie takes up far more room than a sock, and a boot that fits in the box will crush your foot by hour two.