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And should either of your examples apply?
My parents once bought hundreds of pounds of ammonium nitrate despite being suburban. (The stuff you make fertilizer bombs out of.) Terrorists? No--several years worth of plant food at a going out of business sale.
Likewise, pseudophedrine--before the crackdown I bought currently-illegal quantities more than once--when someone had a good sale.
Correct. It may be perfectly legitimate, but it still falls under the category of things which require investigation due to the potential danger. If there's a reasonable explanation like with your parents then no worries, but allowing mass murderers to build bombs with impunity in order to spare some innocents a few questions is a bad payoff.
It should be the same with high capacity magazines. Maybe some guy got them for a perfectly legitimate reason, but there's enough potential danger in somebody wanting them that it should require an investigation to see if there are any red flags there.
Well, there's a simple financial incentive for anyone serious about gun practice: For a given investment in magazines you can carry more rounds if you have larger magazines. Going to the range with all your rounds already loaded into magazines means you don't have to spend time (while you have rented a lane) reloading.
So you rent a locker and keep your extended round magazines in the locker at the gun range.