I believe they are very different rifles for kind of the same purposes, high volume fire, large magazine capacity with different accuracy requirements. I consider my AK (SLR-95) my medium range carbine. I can consistently hit a 3X4 size gong at 300 yards with mine, no problem, I'm fine with that. Yeah, the AR's are more accurate and that's fine too, but if I want that accuracy at range, I also want the energy at those ranges too.
I personally do not have a use for the abilities (or non-abilities) of that cartridge at extended ranges. So for me a more useful cartridge would be of a .30 caliber, .30-06 or .308, I have the accuracy and the energy at range for a wide variety of targets and don't feel limited. There are a few mainstream rifles that are in the larger calibers which also have high-magazine capacity and are accurate, M1A, FAL, HK91 are some that come to mind. I'm not bashing the .223, for me it has limited applications for my uses and since I'm spending the money, I figure get a rifle that can do "more".