I love these debates.
Most hunting bullets work great at closer ranges (higher velocities), the "premium" hunting bullets are more likely to expand well and retain mass than the cheaper 1s will due to design and production technique like bonding.
Most "match" bullets perform poorly on game as they are never bonded and normally have thinner jackets and franklly are not engineered to expand reliably, so at closer ranges (under 500 yards in my experience) 1 of 2 things will happen. Either the bullet "pencils" through leaving a small exit hole and does little damage or the expand very rapidly (nearly exploding on impact) generating little penetration but leaving large superficial wounds.
At longer distances once the bullet slows down some the premium hunting bullets fail to expand in many cases hence creating minimal wound channels and with the slow velocity you get less kinetic energy transfer ( hydrostatic trauma).
With standard hunting bullets accuracy at long range is questionable as is performance. Some come apart rapidly and do not penetrate well or are hard enough to not expand depending on construction.
Having killed hundreds of animals with match bullets at long range (600 to 1300 yards) over the years have found at distance they work better in most cases than a hunting bullet.
The real key to bullet selection is selecting the correct bullet for the job, this includes taking into account the distances the bullet is being used at, what the minimum velocity the bullet will expand at helps in this determination. Below 1500 FPS is where most bullets , unless specifically designed for expansion at under that speed, will fail to perform well.
Also what the animal being shot at should be taken into consideration. Trying to shoot Cape Buffalo with a cheap hunting bullet or a match bullet is stupid, regardless of caliber.
Shooting jack rabbits with monolithic bullets is also not really smart as they will always over penetrate.
Like anything else there are products that are not necessarily designed for a generic use but when used for something specific, can work exceedingly well.
Just because the manufacturer does not recommend it does not necessarily mean it won't work. I started to use match bullets for long range hunting after spending some time on a hunt with a well known bullet makers rep, who was using the very bullets they claim never hunt with, on a hunt and they worked real well as I found out, just need to use them a specific purpose.