In my opinion, but there are three reasons the 270 is not used as a high power rifle target round: Ballistics, bullets, recoil.
The ballistics of a .277 bullet is worse than the ballistics of a 6.5mm. Ten years ago you saw 7mm’s (284’s) on the line, now you don’t. You see 6mm or 6.5 mm.
Don’t forget match bullets. You can’t compete without the best match bullets. That’s why the 6.5 calibers languished for so long, the only good consistent match bullets for years were in 30 caliber. But now, great bullets are available in the smaller calibers. I understand that now there is a 270 match bullet. I cannot image a serious competitor shooting it.
Anyone who shoots in competition knows that recoil is the enemy of consistency. The 270 kicks harder than a 6.5-08. Recoil makes you flinch, than it knocks you out of your position. The 270 is an overbore cartridge, barrel life would be just as bad as any 6.5 mm.
Almost any cartridge will give excellent results, assuming barrel, bullet, and bedding are properly done.
I am also of the opinion that the 270 Winchester would wained away without the decades of promotion of Jack OConnor. There have been a number of decent non magnum cartridges, and a number of decent magnum cartridges (7mm Sharpe?) that have gone away. I own two 270's and I don't consider it that much different from the 30-06 with bullet weights up to 150 grain. Sure the 100,000 yard downrange velocity may be better, but how many people should be shooting at game at extreme range?
