I started moly-coating my bullets in 1995. Never saw any improvement in accuracy, although original claims never stressed that, just less time cleaning due to less copper left behind.
Did see a drop in velocity, due to bullet spending less time in the barrel due to reduced friction. Overcome that with higher powder charge weight.
What frustrated me most was cleaning the rifles. Simply could not tell when things were clean as patches consistently came out black.
Prescision Shooting magazine stood behind moly and against detractors, so I kept doing it.
Finally quit when my 7mm STW lost accuracy. Used to get 100-yard groups between 0.5-1.0 inches and these started to spread to over 3 inches, no matter what I did. Thought struck me that moly may have been building due to shot after shot accumulation. since moly easily washed off my hands with soap and water, I cleaned the rifle for 5 DAYS with dish soap, then 20Mule Team Borax, then everything else I owned, thoroughly drying due to fears of rust due to water, etc. No luck. Rifle still wouldn't shoot like it used to.
I've since taken every bullet I moly'd and ran them through the vibratory case cleaner with corn cob to remove all moly.
Perhaps had I just moly'd the barrel it would have been different. But back then, doing the bullets was the "answer."