The folks naming the new ctgs must have watched to many Marvel superhero movies. Nobody asked, but I would have much preferred .400 AR, .350 AR. For conversations sake, I expect one or the other to survive, but not both. I suppose if I simply abbreviate them to .400L and .350L I can tolerate them.
The industry provides products for profit, and the AR is wildly popular. Makes sense to introduce cartridges for the most popular rifle in the country (OK, one of the most popular). There are specific states that require their geometry, but beyond that, their practicality and nieed for both is debatable. As there is not a contemporary .40 factory "rifle cartridge" existent, the .400L may survive, but I dunno. It may depend on legislation bearing upon AR rifles.
The Swift broke 4000 fps first and is a classic. The Nitro Mag family was a product of the propellants of the day. The Ultra Mags, and their dwarf relatives the Short Ultras, were flops. So to were their alphabet soup cousins from Winchester, the WSM, WSSM's. I'm still thinking about the Bee and the Hornet, but I wish I had one of each! Will we be talking about the Legends and the Buckhammer near 100 years from now (age of the Swift) I dunno.
Renaming cartridges has been done before, and successfully. I suggest the Legends and the 'Hammer start the paperwork.