Realistic or not, testing on any standardised media becomes more useful when large variety of bullets are tested at multiple velocities. Then few relevant conclusions can be made.
Firstly if new bullet performs similarly to some previously game proven bullet, it probably performs the same.
Secondly it can be used to determine lowest velocity the bullet needs to have on impact at game. Still hunter needs to consider also sufficient kinetic energy related to game size but poor expansion is one probably cause of passthrough with slow killing effect.
Reality is that these days it's harder to find actually poor bullet than well working one apart from few unnamed exceptions that are designed around flawed concepts. Not the point here.
Anyways, a Finnish group of hunters started to gather evidence of bullet expansion using soaked newspaper. Project was initiated by multiple lead free options coming to market but is by no means excluding leaded options. Either way the bias is in bullets that are new or less known so there isn't as much real world experience on them. Hence they will not test Swift A-frame since it has proven itself long time ago. Also they'll gladly accept donations of bullets for testing.
http://hardhittingshootinglab.com/