Personal experience (only two driveways) has been as follows. At our first property, I sealed the driveway annually with a coal tar emulsion sealer. I liked that material because gas and oil didn't affect it. By the time we built our current house 17 years later, the driveway had cracked substantailly. No potholes or missing pieces, but it was getting pretty challenged looking. Sealer required for the first application was at least twice that indicated on the cans. Subsequent recoating took less and less each time. The last time probably took half the recommended amount. The best tool for application was a cheap push broom. I had better luck with that than the official squeegee/brush. One thing we did notice was a dark hard to remove patina on the light-colored floor tile that we blamed on tracking from the sealer.
I haven't done anything to our current driveway since it was put down. It's in good condition, but after about 10 years, it is showing minor cracking in some spots. It appears the degradation has been about the same for both the sealed and unsealed driveways.
A group of us owned some apartments together until about the time we had our new driveway done, and one of the fellows asked his brother-in-law (superintendent for a paving business) what sealer to use on the driveway and parking lot at the apartments. The BIL told him there's an ongoing debate among the professionals whether it is good/bad/doesn't matter to seal blacktop. At that point I decided not to bother with mine.......................chim