There is a big difference with cue butts and joints as well in how the hit feels, it's all connected. I have shot with many cues using the same shaft and there is a difference in vibrations that you feel in the grip. For example the Ned Morris cue with a 3/8 x 10 joint I had and just sold had a super sweet smooth softer hit with any shaft I put on it, more so than a McDermott and several other cues I used with the same shafts.
Hit feel is basically vibration either through the touch or audio from the hit sound (and yes I think that sound is part of a hit feel, like smell is a big part of taste). Different woods and materials transmit vibrations differently, so different butt materials and construction methods absolutely have to have different hit feels.