There was a third option, though I can't remember what the cartridge was called, but it was esentially a 5.56 cartridge opened up to accept a larger/heavier bullet-I believe about the size of a 6.5mm +/-
The advantage was it would accept the same sized MG belt links, loaders, stripper clips, magazines, same capacity, relative internal parts bolt dimensions with esentially just a change of the barrel, and lobbed a heavier bullet with alleged better balistics than the 5.56-though no where near the Grendel and a bit below the 6.8...
I personally can't see the military going away from the 5.56, or the 7.62-just possibly taking steps to improve the ballistics of the round in shorter barreled weapons.