Staying out of the anti-predator protection issue, my view is, "Why not?" As long as there is a huntable population, why not? The hides tan for really nice vests, jackets or coats. More importantly as a hunter, they are more of a challenge than other critters--which means that success gives a higher degree of satisfaction from having met a tougher challenge.
I'd rather have BossLady in a wolfskin coat from my own skill than have her wearing a diamond ring that only says, "I have money!" At least the coat is a useful thing, keeping her all warm and snuggly.
You're from BATFE? Come right in! I use all your fine products!