It goes for ANY firearm, so I don't see your argument being more valid whether it's a Ruger LCP or a grenade launcher.
I know. You must have led a sheltered life. I'd really rather people not have that capability for no extra discernable freedoms. It is a risk/ reward thing. I would be all for banning the LCP too if they could take down a street of large office building with a few pulls of the trigger.
I hear stories of legal ones but I know of no owners. Getting ammo would be a nigh impossible too under current laws.