“The .338 (8.6mm) Lapua Magnum round has an effective range (about 1,500 meters) about 50 percent greater than the 7.62mm standard NATO round.”
That’s impressive!
Unfortunately, there's a cost. My understanding is a sniper rifle chambered for the .338 Lapua is only good for about 1500 rounds before requiring a new barrel, whereas a .308 can maintain sniper level accuracy in excess of 5000 rounds.
Speaking of the .338 I owned a Reminton 700 chambered for the .338 win magnum. If you worked up good handloads for that puppy if was a flat shooter. The recoil was a little stiff but you get used to it. I sold the rifle a few years back and regret it.