This is an older question, but for reference, I think it's worth pointing out that just because the case realised in nature is that quarks confine below the electroweak scale (and therefore the hadrons are not in irreps of $SU(2)_L$), doesn't mean we couldn't explore hadronic $SU(2)_L \times U(1)_Y$ as a learning tool.
For example, in the simplest case of Dynamical Electroweak Symmetry Breaking, where we remove the Standard Model Higgs and attempt to give mass to $W^{\pm}$ and $Z$ using only the quarks. Here the strong QCD gauge coupling condenses pairs of quarks $(q_L)_i (q_R)_i$, giving them a vacuum expectation value. We can then introduce a field $\Sigma$ that parameterises these pairs as a sigma model, which could be linear or non-linear depending on the observables we're interested in.
For the simplest breaking case of the up and down quark condensing, we have
$$
SU(2)_L \times SU(2)_R \rightarrow SU(2)_V,\\ \implies \Sigma_{LSM} \sim (\sigma, \pi_1, \pi_2, \pi_3) \rightarrow \Sigma_{NLSM} \sim (\pi^0, \pi^+, \pi^-)
$$
(abusing sigma model notation a little).
These pions couple to the gauge bosons, and therefore have perfectly well-defined hypercharges. Shifting to the broken vacuum, the pions become the masses of the gauge bosons and then the hypercharge isn't well-defined.
One could certainly add quarks to the model. For example, adding the strange quark gives a type of Eightfold Way ($SU(3)_L \times SU(3)_R \rightarrow SU(3)_V$), except that the hypercharge of this is the genuine weak hypercharge. One can add all of the quarks in this way, such that we have $35$ mesons with well-defined hypercharges, and a $W^\pm$ mass of around $50$ MeV.
Unfortunately, this doesn't match nature, and we need the Higgs field. But we couldn't know this without experimentalists.