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As far as I can tell, that idea went away...
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It was a technology litmus with no intention of production which is a little different.
Had the condition existed:
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“everyone from Russia and China, to Hezbollah” and the Islamic State is employing advanced armor that “risks making the 5.56 round essentially obsolete.”
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You would have seen a production contract for a replacement ASAP.
Kind of like how the USAAC Replaced the P-26 five years later with the P-40...
Obsolescence is a huge motivator.