As others have said, M193-class ammo does quite well. It's just that we now have ammo that is considerably better, *especially* from barrels shorter than 14.5". M193 didn't get any worse, but for many of us, our expectations have increased. Before the heavy OTM bullets or 6.8mm existed, M193 was about as good as it got for ARs or 5.56 weapons. Today, we can do much better, and that's a GOOD thing. When your life, or the lives of a loved one, is on the line, you want every possible advantage to help you end the fight quickly.
This is a natural progression. In the 60's, people were thrilled with muscle cars that had a lot of power, even though those cars handled horribly in anything other than straight-line driving. Despite their power, a car with much less horsepower but better suspension and handling would eat them alive on a road course.
Today, we have many cars that have as much or more horsepower as the muscle car heyday, but today's cars also handle very well, get better mileage, have a tiny fraction of the emissions, and are far safer in collisions. If someone tried to sell new cars built like the muscle cars of old, they'd sell very poorly, because our expectations have increased.
-Troy