The hunting pellet that they show looks like yours, and the ones I remember from greener days, but the M-G pellets have what look like smooth flat faces. If you've ever used these, are they really more accurate than the hunting pellet?
Boom J,
Paper-punching airgun competitors use flat-nosed pellets to make clean holes in the target for scoring purposes. Since they're shooting to short ranges at paper, the crummy BC of these pellets isn't a problem.
In games like field target and silhouette, where they're shooting at metal targets that require more retained energy to make them fall, a round-nosed pellet is used. They're also the most commonly used pellet style for hunting for the same reason.
In most airgun shooting, the Diabolo pellet shape is favored due to its inherent 'drag stabilization' at low velocities. It also takes advantage of an airgun's low power due to the small front and rear driving bands which have little contact with the bore.
Cylindrical pellets aren't popular anymore since they're not as suited to airgun characteristics.
However, in a cannon like mine (with no shortage of power/velocity), the design works. I chose it as a happy medium of paper-punching, BC and simplicity.