The thing about target bullets, is that they tend to be very accurate- more so than "hunting" bullets.
The thing about being very accurate, is that it really helps at longer ranges.
Same is true with higher BC's.
Some target bullets have both high BC's AND are very accurate.
A subset of those are perfectly fine for LR hunting, where impact velocities tend to be low. As a side note, many hunting bullets do not do well at lower speeds and are thus a poor choice even if they had the accuracy and high BC... ..... Anyway, which target bullets are appropriate to include in that subset has been the result of folks simply trying them.
Nothing in that says you load your rifle with target bullets for closer-range stuff.
To my knowledge the bullet does not exist that is ideal for both long range elk killing and short range elk killing. Companies keep trying... the new Hornady offering (BC similar to Amax but with controlled expansion) is the latest I've heard. It's unlikely to be as accurate as a pure target bullet, but, that remains to be seen.
Speaking strictly for myself the advantages of extreme accuracy and high BC are very, very tangible at longer ranges. YMMV I suppose.
