I've shot F Class with devote fans of very high magnification optics, but when pressed on what magnification levels they actually use, the value diminished become clear.
The best shooters I know use highest magnification at only 300 yards so they can pick the target real clean.
They rarely use more than 32 power at 1000 yards because mirage washes out the image and because a precise aiming point is not required because they are aiming all over to offset wind shifts.
Keep in mind that these users of high magnification scopes do not necessarily out shoot guys with 20x, so don't misinterpret their "preference" as an "actual" advantage.
I believe that very high magnification might be most applicable to 1000 yard bench rest string shooters.
I see almost no need for anything more than 20x on less controlled shooting events at longer ranges and I've personally never felt under gunned even at 300 yards with 20x.
I could see value in more than 32x on those rare occasions where wind is dead and sun is low, or maybe just as the fog lifts but those occasions are rare.
This is probably obvious... Also finding the target in high magnification scopes is more difficult. If you have the time to find it, ok. If you may be operating under some sort of time constraint well lower power is better.