Slap sound

I am watching a rerun of Enter the Dragon and I am chuckling about the sound effects. For example, with every punch that is thrown (and that’s quite a few), you hear that ‘swoosh-bang’ sound that has been the de facto standard for punching sounds in movies for as long as…I guess somewhere in the 70s.
Now being an amateur fighter myself, I am rather familiar with the sound of a (bare knuckle) punch, namely none worth mentioning.
I understand that it is better for effect to have some sound to match the visual, but I started wondering…who came up with this sound and why do we have the exact same sound in all movies and tv shows? Is there a sound monopoly in Hollywood, or is there a standard for movie sound effects that best practice producers must commit to?
Are there other totally unrealistic sounds going around in movieland?

Sounds like Foley effects.

The noisy gun trope is rampant.