Why does Hunting make sense?

I'm trying to wrap my head around the Hunting life skill. I've done the basic questline for Hunting and it's all fine and well. What I don't understand is; how is Hunting different than say... just killing the mob and slaughtering it?

I hear people hunt for instance Feather Wolves for meat. Well I can also kill them normally for meat. Killing them with a slow musket would be a lot slower and less efficient.

What am I missing here? :D