Yes, it shows how they compare to another bullet, but not how they perform on game.
If a bullet does well on game, but another one does better on your test. How does that help a hunter? Dead is dead. They may pick the one that does the best in your test when the one that didn't do as well on your test was a good bullet on game.
A lot of times a bullet will do well on a torture test, but won't perform well on game. Some bullets take a lot to make them expand. They may pencil through game, but look good on a torture test. Other bullets may perform perfect on game, but over expand on a torture test.
Your tests do show how bullets perform at the extreme. However, i'm not sure if i'd use it as the only reason to use a bullet for hunting. A hunter needs to consider more than the test results.
I think an accurate test would be a deer hide in front of ballistic gel for a deer hunter. Was too expensive to do I know, but would give more info for a hunter. The only way to simulate hitting bone on entry is to use bone. Bone shatters. Not sure carpet and plywood acts the same. The problem is you don't always hit bone. Especially, when you don't aim for it. What happens if you pick a tough bullet that does well in your test, and then the shot on game goes through both lungs, and never touches any bone? Will it pencil through?
So many variables I would hope hunters pick a bullet for more reasons than these test results. Try to imagine how the bullet will work in all situations. Then make a choice. I know a lot of guys here are doing that. I'm talking to the ones who just take the best results on these test as a final decision on what bullet to use.