It is not a good practice because all bolts, when fully loaded will slip into bearing. since the hole burned through the structural member is not round, the bolt shank will be making point contact rather than bearing against a round surface.
The problem is compounded when the connection involves several holes and several bolts. As the connection is fully loaded, the connection will slip so each bolt will bear against the side of the hole. However, due to the inaccuracy of the bolt hole locations, an individual bolt will make contact with the side of the hole. Only the bolt in direct bearing against the side of the hole will (effectively) transfer the load into the adjacent member. While several bolts sharing the load will work, an individual bolt will be inadequate and will be overloaded. Ultimately the bolt in bearing fails and the load is transferred to the next bolt that slips into bearing, it fails and the process repeats until the connection fails.
This is the simplified explanation.
Best regards - Al