This is very true. I would like to add that these bolts (and threaded holes) are tapered, somewhat like a pipe thread.Those threads in the banjo housing and the bolts used to hold the axle bells to the banjo are special in design to help prevent oil leakage. Using a standard bolt, especially in the lower section where the oil pools up, could setup a leaking situation. Maybe a good sealant would prevent that.
The interference between the threads provide the seal. NOT the "taper" you speak of near the head of the bolt. That is simply clearance so the bolt may go through the axle housing.I agree with John on the unique design of banjo bolts. The area between the threaded portion of the bolt and the bottom of the head has a subtle taper. The pictures show where the taper is but unfortunately, the taper is not readily noticeable in the pictures. Common hardware bolts do not have this taper. If you add a lock washer under the head thinking you will keep everything tightened you will be inadvertently negating the taper seal and creating a major leaker.
Tom