I think I am sort of agreeing with you but putting it another way.
HMR carries plenty of energy at 200 yards to stop a rabbit or crow instantly.
It may not deliver that energy as efficiently as at some distances, and delivering it to the right place at 200 yards isn't that easy either.
In simple terms I don't really see the HMR as a 200yard everyday tool for anything...but then again, a HMR to a .223 is more than a 1000ft lb increase, there are several choices in between those two!
I've had a number of 'pass throughs' on both rabbits and crows past 150 yards with the HMR where