What you are describing is a CLONE or a knockoff of the AK-47 that is semi-auto(as are most pistols and as many as 1/3 to 1/2 of all rifles). The media CALLS them AK-47, but technically they aren't.
What the AW bill bans is really ugly guns. You use the cocaine cowboys as an example. If they really want to do some damage, the would all take .30-06 carbines and 12 gauge Mossbergs.
My deer rifle is more powerful than an AK.