Four power or not, I have been very successful out to 300 m. More difficult to distinguish small targets but excellent field of view, good edge-to-edge sharpness, good low light capture, etc.
The main value of the ACOG is the “both eyes open” viewing and aiming technique that really improves fast acquisition of targets in all light.
The main advance that the ACOG in its Rifle Combat Optic (RCO) guise has dramatically improved combat effectiveness for the Marines and other forces that use it.
Consider too, resale: ACOGs routinely sell used for $800 and more. The other scopes rarely retain their value as well.