I assume that you want to know why it would be bad to form a society where someone can get respect by killing a pig...
In some ways, it would not be bad. It is obviously important to get food and Jack and his hunters are able to do that.
What is bad is the way they go about it and how it seems to affect them. They are purposely cruel to the pig, causing it much more pain than they really needed to as they killed it. They really glory in having done this. So they are being given respect for an act that was quite sadistic.
The other thing is that their hunting is fairly irresponsible. They do not want to help with the more mundane tasks, even important ones like tending a fire to attract rescuers.
So really, it's not so much that killing the pig is bad, it's that they are too attracted to hurting other things and not concerned enough with helping their society as a whole.
The idea of forming a society based on control of resources presents as a dictatorship. This is exactly the way in which Jack governed his tribe. He wanted to be the supreme leader. He could see to it that food, a most valuable and necessary asset, was provided. A dictatorship can be bad because the sharing of the resources is subject to the dictator's approval.
Ralph, who was more of a democratic leader, could not provide the necessary resources as the food was supplied by Jack. The only thing which Piggy and Ralph possessed that Jack did not have were Piggy's glasses which provided fire. However, jack attacks Piggy through his men in order to gain control of the resource of power as well. This leaves Ralph and Piggy with no bargaining power.