I have found wasp spray to be highly effective against wasps and hornets. As far as "off-label use", if I'm using wasp spray for defense, I'll be using the can for offense. When you think of it that way, a fire extinguisher would be more effective. The old "fog and beat" method.
I too have found the efficacy of wasp & hornet spray high for wasps and hornets. However, I have yet to find a brand that has any effect on those brutish carpenter bees. If you hit them directly with the stream while in flight, they might stutter a bit due to the momentum of the fluid, but then they shrug it off and continue as if nothing happened.