I theory a lighter bullet, with a better BC, would be faster at the muzzle, providing less drop/drift, at longer distances, while still retaining enough energy to expand and penetrate the vitals of the target animal. Another advantage would be less damage to a smaller target animal.
The target animal also plays into this...lol.
One of the problem with big bore bullets is the manufactures are not concerned with long distance shooting BCs and bullet expansion at less than 1800 fps. This wouldn't be an issue on a .416 springbuck at 400 yards, but it would be huge on something the rifle/round was designed, at that distance.
As an example, a .416 Weatherby (factory load data....YMMV) w/350 Barnes ttsx (.444 G1 & 200 yd zero) drops 21" at 400 yards. The velocity/energy (again factory load data) is running 2207 / 3785. That is amazing for a big bore. That's only 5 1/4 MOA come up. That is easily dialed in, on a scope with exposed turrets, in the field.
The velocity and energy is still more than enough for small to medium plains game out to 600 yards. The issue becomes the bullet drop. It double between 400 and 500 yards.
Should Hornady decided to come up with 416 Jesusmoore (tm) and designs a 300 gr, controlled expanding hunting round, with a BC like it's A-TIP match, game on....lol
My opinion is that nobody really wants an 'all-arounder' .40+ cal rifle. Although you can get the distance, the recoil and cost per round doesn't make sense when that size of the animals is easily handled with a 30.06 - 300 Win Mag.
FWIW, nothing beats a well placed shot.