That's what melamine is. It just has that white side that keeps it from tearing out when I rip it up. Regular masonite would probably be fine if I kept my table saw blade at 3/16" high.
I look back and laugh at how much I didn't know coming up. For years I used a jigsaw to cut underlayment because I didn't realize the tearout I got from a skilsaw was due to having it dropped all the way down instead of adjusting to the thickness of the product I was cutting.
Youth is wasted on the young. hehe