it's there, but typically not as thick or is a spray polymer which is very thin and doesn't gum up. a similar spray polymer is used in eastern bloc 7.62x39mm ammo pretty commonly. automatch only lubricated the lead round nose (LRN) as they used cheaper powder that was a bit dirtier than what was used in federal champion which, because of cleaner powder and using better lead alloy bullets, only needed very little external lubrication. the lubricant was to offer better extraction in revolvers, repeaters (pump, lever, et c) and bolt action rifles. automatics have a higher cadence of fire and tended to gum up with cheaper powder faster.
old lubricant on cheap lead bullets would dry and become flaky while the lead turned white. this combo created lead frosting:
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it can be wiped off with alcohol or any keytone like kerosene, acetone, et c. but bone dry unlubricated .22 LRN with cheap bullets will very quickly foul a bore with leading and can result in stuck cases. there isn't a lot of rim to use to grab onto and yank it out after all, and it's hollow too...
plated tends to avoid a lot of these problems. in the specific case of aguila plated (or really any wax you want to remove) you can melt it off with the trash bag method or with paint thinners and a brush, et c. don't like a little work stop you from cheap ammo.