You made the case for replacing it in your own post.
The successor does not have to be revolutionary, it can be evolutionary or retain many of the design-elements that make the Stoner design robust.
However, there are many newer designs out there that are far, far more superior for a battlefield rifle.
No, I made the case for not replacing it simply because it is old. I think it's still a useful and proven design that has evolved into its present form over the course of decades of warfare and there's something to be said for that. I also think the reliability and lethality issues are overstated.
I carried an M16A2 around for 8 years as an infantry soldier and have owned numerous AR15s and Ar10s as a civilian. I reload for these rifles regularly and am very familiar with the subject of external ballistics. I think I am at least a little bit qualified to judge the weapon.
My primary concern is the trend towards shorter barrels/M4s. The 5.56mm needs all the velocity it can muster to be effective. I also have concerns about the new M855A1 ammo. It seems like it isn't quite what was promised. I really don't have the time to dive into this topic as much as I would like to right now as I'm heading off to work.