That I wouldn't do it in lieu of the 340 Wby or 338 RUM or even the 338 Wm for the very reasons you state.
I should add that I think it's a very good cartridge and a friend really likes his 300 Dakota but I'm just at the point in my life where I'm going for simplicity and practicality - mostly, somewhat
- and that's why I'd go for one of the more common .338s.