It is without a doubt, more effective as a rifleman's rifle in aimed fire.
Well, you can wish that all you want; the truth to it is that the Army thought otherwise. The M14 was tossed in the dumpster because it's size and weight impeded the concept of putting a lot of bullets downrange at the enemy.
Don't blame beancounters, Congress, or whatever, it's reality. It started with the GERMANS, who saw the bolt action 8mm Mauser, one of the most highly respected firearms in the world, becoming obsolete on the battlefield. They studied the problem, and moved to self loading actions, and even designed a new weapon using an intermediate caliber. The point has been made elsewhere, take two squads of soldiers in the Ardennes, give one the Garand, the other the STG44, and stand back. Sorry, the reports are right there, Garands got their butt kicked by superior firepower. Extended range had nothing to do with it.
Fast forward to the 'Stan, we did need a bit more range, because we couldn't reach out to 800m. The answer was to refurbish the M14 - and there are only 5,000 going. Compared to over 100,000 M16's and M4's, the need was considered supplemental, not a massive changeover so every soldier could get one.
Every soldier doesn't NEED an 800m weapon, it's a known fact in tactical circles most soldiers can't target past 500m or shoot it. They don't need to, other weapons are available, and that's where the Main Battle Rifle drum pounders show a consistent lack of view.
It's not about a single shooter or two man team, it's about what a squad or platoon has given to it to control the area they command. Mortars, rockets, grenade launchers, machine guns, and even bigger resources exist.
You can always tell who hasn't served, they think it's all about them and their rifle, mano a mano, them vs. the entire opposing force. It's a false argument to think the individual soldier has to carry The One. No, he just gets one, and uses what he has, which works as well as he does.
I see inadequacy issues in the argument, not competent knowledge of firearms, or experience behind the trigger. It seems the ones who don't like the M4 are the least qualified to know. Somebody has to make a responsible decision and did, they didn't pick the 15% solution for 85% of the shooting, they issued what fit as the better tool.
Some folks are too used to being on a cruise boat in the Nile, and face reality in the field.