That theory was developed during the Cold War. It works when you are fighting an enemy that treats its wounded and doesn't simply abandon them.
Another problem is that the enhanced penetrator often doesn't wound them bad enough to take them out of the firefight unless you strike them in the head, heart, pelvis, or some other vital organ.
No, it was a spewcific basis in the design criteria of the 30 M1 Carbine round developed early in WWII.