The .22 Hornet is somewhat of a niche cartridge for a select group of predator callers. The .22H is just a touch behind a short barreled .223rem in energy, and it does quite well on coyotes out to about 200yrds for the discretionary shooter (pick your shots).
The .22H has really hit a resurgence in the last couple of years in line with the boom of new predator hunters jumping on the bandwagon, even pushing up a few new rifle actions specifically for this class of cases (Savage 25 Walking Varminter in .22H and .17H).
No, it's not a long range hammer. Yes, it is a fantastic "fur friendly" round. Mine is a Ruger 77/22H, really love this rifle. Would LOVE an excuse to get into a Savage 25 WV though.
The .22H is a GREAT choice for predator hunters that will have a lot of opporunities at bobcats and fox. It's on the borderline where it's enough for coyotes, but not too much yet for bobcats and fox. Larger capacity 22cf's can get messy on fox and bobcats (even the .223rem) and cost you a lot of money in ruined hides.
I look at it this way: If you have regular opportunities on bobcat and fox, it only takes about 3-5 bobcats NOT RUINED for a .22H rifle to pay for itself.