I've held people's heads down with accurate semi auto fire from my M4.
Hell I've even suppressed 3 people with AEG's with my bolt action sniper rifle.
I've even ambushed 2 guys with AEG's, and actually had them RUN from me even though I had a bolt action rifle (even got that one on youtube!)
I'm not saying the LMG doesn't do it's job well. I love mine to death. But it's not always totally necessary