The modern 40mm and 127mm look the same but are most definitely not the same weapons.
It's like comparing a rotary phone to a iPhone 10. Sure they both make a call but the limitations of the former are staggering in the modern world.
The effectiveness of guns comes from the quality of their fire control solution, which in modern times is way better. No more eyeball the target, now you have gyro stabilization, muzzle velocity detection, air and temp effects, round weight, improved sensors, predictive modeling, round tracking radar etc...
Of these, perhaps the most important new developments are firing patterns and "intelligent" munitions. Proximity fuses are a good backup, but a firing pattern exploding in an area where the target is going to travel through is actually much better.
That being said targets are harder to hit, coming in lower, faster with better maneuvering options, or with more stealth. It's an entirely different ecosystem, and comparisons with historical models should be done with a healthy dose of salt. That being said, they who ignore the lessons of history ... It's good to know where we have been.
Colin P said:
Interesting to compare a loitering munitions to a kamikaze? Maybe hull and upperworks armour will make a comback?
IMHO loitering munitions are no different than any missile system except that they can wait for their target. This actually might make them less effective in actually killing naval targets, as if you are flying around in an area a ship could detect them and just avoid that area. Of course that might be exactly the effect that the enemy was looking for. Mission kills count.
*edit: spelling/phrasing*