It's interesting that the upgraded version of Hunter's Instinct loses the text "If there are no supplies on Hunter's Instinct, discard it." This is actually a significant nerf to the number of uses you can get out of it.
Because of the Limit 1 per investigator, you're stuck with the first copy you play and can never play a second copy, as per rule 2.3, Limits Pertaining to Play Areas: "Another copy of that card cannot enter the specified play area if this limit has already been reached."
You also lose all the recursion shenanigans with Resourceful and William Yorick, since you can no longer discard it from your play area.
The only way to get more than the initial 3 uses is through supply-manipulation effects such as Emergency Cache(3), Contraband or Cleaning Kit.
With all that in mind, I'd seriously think twice before upgrading your level 0 Hunter's Instinct into this version.
- EDIT: Nevermind, I just saw that the card has actually been given an errata to add the self-discard text back.