This issue has been discussed at length on MMD a short time ago.
Only under exceptional circumstances should botch job be performed,
and I don't mind admitting that I have done this myself.  For example,
you are just completing a major rebuild, with correctly repaired
screw holes, when one thread that you thought was ok and therefore not
repaired gives way on final tightening.  For that single screw it would
be acceptable to use the 'sub standard' repair.  I would use a short
length of a fibre 'Rawlplug' cut to the correct width inserted into the
stripped hole with a little glue.  The wood fibres retain a resilience
that takes the thread of the screw.

If you have the workpiece on the bench there is no alternative.
Do the job properly.  The stripped hole must be replaced by new wood
of the correct type and grain orientation.  I drill a hole and fill
this with a cross grain plug cut from stock with a standard plug
cutter.  Very deep holes can be filled with a number of plugs glued
in on top of each other.  The surface is left slightly proud and then
planed or sanded flat.

An alternative technique can be to insert an axially grained plug
(dowel) from the side, just under the surface, if such access is
possible.  I have seen this being used on original German stacks where
screws have to be inserted into the end grain of the stack boards.
The screws, therefore, cut through these dowels at right angles giving
a decent purchase on cross grain wood.

If a job's worth doing, it's worth doing well.

Regards, Nicholas Simons, UK