beerthief, the point may just be the top of my head, but I think the idea is that with a better ballistic coeficient, a slug of the same weight will carry a little more energy out to 50 yards. But then again it may take 50 yards to see a difference. For example, a 10.3gr .177 JSB diabolo shot out at 12 ft# is calculated to have only 7.8 ft# at 50 yards, while a JSB knockout 10.03gr slug shot at the same 12 ft# will have 9 ft# at 50 yards.
So you make a great counterpoint, is 1.2 ft# enough to make any difference? Not for me, as I'm not accurate with even a laser pointer at 50 yards. But for some people it might.
And if one doesn't keep the weight of the pellet the same but just the energy of the gun, then the downrange difference between slug and diabolo can be greater. For example, shot at 12 ft# a 10 grain diabolo in tin (.22 caliber) will have only 6.2 ft# at 50 yards. A slug can be made much heavier, say almost twice the weight at 19.7gr, and would have 8.2 ft# at 50 yards. 8.2 vs. 6.2 starts to be a difference from the squirrel's point of view, and that is just thinking of it in energy foot pounds and not the momentum of the pellet, which would be around 2/3 greater for the heavy slug. There are some arguments for downrange momentum too. I can't vouch for squirrels but the heavy slug pellets sure hit the trap a lot harder.
If one has a "magnum" .177 springer then one might only want to shoot heavy pellets, and those might include some flavor of slugs if they happen to be accurate in the gun. I just didn't want the OP to discount them as inherently inaccurate without actually testing and enjoying, yes, probable failure yet possible success.