I distinguish between host specific blacklists, and domains type blacklists. In practice, I’ve found domain blacklists aren’t quite as useful for hosts file style blacklisting on ms windows type systems.
On linux type systems, pi-hole and dnsmasq can blacklist entire domains (ie. ALL the hosts under the domain name). To do the same entire domain blocking only using a hosts file on ms windows, it would require redirecting every single host in the domain to 0.0.0.0 or 127.0.0.1 by listing every single host in detail (including aliases under the same domain).
Nevertheless, my current host file blacklist on ms windoze is just a concatenation of the mvps and dan pollock lists where I just removed the duplicates. (I wrote my own script which does this all in one swoop, which can incorporate additional blacklists easily).
The mvps and dan pollock lists are small and good enough to do this style of host file blacklisting, without significantly slowing down dns lookups. (Such as blocking known long lived advertising and tracking servers).