You have to keep in mind that the hornet is a old BP round and case that dates to the 1880s...just smokless vs BP is all. A win high wall would be in .22 WCF..they just say hornet as it sounds better is all.
While developed from the black powder .22WCF, the Hornet was not just replacement of the black powder with smokeless. .22 Hornet rifles got to the shooting public beginning in 1932-33, with just a bit of developement time from the 1880s blackpowder round on which it was originally based.
The Hornet was the first commercial smokelesspowder centerfire cartridge marketed for small game and pest control. It is the original "varmint" round of the modern era.