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I think eating is a separate matter. Plus, eating (particularly slightly more solid food) takes longer to absorb, so if you eat after you are hungry you are just extending that hunger longer.

That said - I've done many long (8-12hr cycling only or triathlon) events on liquids alone (I prefer infinit.us).

Similar with cycling.

I did a 120 mile charity ride and was so worried about hitting the wall I over ate and felt nauseous for the last 20 miles.

Same experience on my end for my first ultra distance race. However, feeling bloated is much better than bonking.