I’d say having a hunt bridle without the noseband in slots is just a way to save a few cents on the bridle. Doing the slots is more complicated and costlier. It’s also stronger, IMO. The only thing holding the noseband on without the slots is stitching, and stitching fails. With the slot, the two parts are held together by leather, not thread. Granted the leather through the slot is stitched at the back, but it is subject to much less pressure than a direct stitch join.
Good bridles also have double leather where the bit is attached to the leather. I figure if the maker doesn’t do that, they will have cut other corners.
The Shire’s bridle will be cheap Indian or Paki leather. It won’t be as strong or long lasting. The one thing you really DO NOT want in the hunt field is broken equipment. If you buy a good bridle and maintain it well, it will last almost a lifetime. Even if you don’t maintain it well, it will last more than twice as long as a poorly maintained Indian leather bridle.