Yes- there are numerous accounts of teens era decal bats that were game-used.
Aside from being hand-turned, a key differentiator is the centerbrand. It should read "MADE BY JF Hillerich & Son" within the oval.
Retail Models will typically have the players' initials within this space, such as 40 FB (Frank Baker) or 40 TC (Ty Cobb). I'm sure there are a few exceptions, but this is a good starting point in determining the difference.
The Bat in the linked video definitely has the correct "Made By" designation.
Hope this helps.
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