The modern day bullets are the things that have caused the massive increase in accuracy, energy, and range.
And I guess, also decreasing prices, and reliability.
It is perhaps possible to make a reasoned argument around THAT, but the arguments around guns rarely reach the point beyond "ban the guns that look scary".
I'd argue that the same kind of logic should apply to weapons like the AR-15. An accessible, reliable, fully dangerous weapon like the AR-15 is so far beyond the 'arms' of the 1790s that the right to bear it could be infringed.
A gun in the hands of a qualified, reasonable person is a legitimate means of self defence, but I can't think of why that should apply to something like an AR-15, which is built to kill as many people as quickly as possible. Qualified, reasonable people have many, better options to protect themselves from the threats they'd reasonably face that can't so easily be perverted by deranged fucks.
If AR-15 style weapons, which use .223 cartridges, were banned, that would still leave sporting rifles, which use the larger and more powerful .308 cartridge. That cartridge was the size used in the battle rifles of the WWI / WWII era that were standard before the evolution of the assault rifle. (Assault rifles have smaller cartridges because the range and power of the standard battle rifle cartridge was found to be unnecessary and the smaller cartridges allowed soldiers to carry a larger quantity.)
Given that, it's hard to see how an AR-15 ban is anything other than a cosmetic ban.
https://en.m.wikipedia.org/wiki/Cookson_repeater
I didn't know about those weapons and they're impressive (though very rare). But, there's still a huge leap between a Kalthoff/Cookson repeater and an AR-15. According to that weapon's manufacturer, an AR-15 has a 30 round magazine and can shoot 45 rounds a minute up to 1/3 of a mile!