Actually as the only person on the forum (that I know of

who's deliberately put themselves in harms way at the end of a 300 metre sling stone (slung by no less a personage than larry bray). I can tell you that psychologically sling stones are a major weapon. The noise they make is incredibly loud. You hear them coming seconds before they impact. And you cannot see them. Imagine being at the end of a 1000 angry, lethal, invisible hornets - and you have some idea of what a massed sling barrage would be like.
And they don't bounce. The richochet idea sounds nice but shaped sling glandes simply bury themselves into the ground. On rock you might get bounce, on earth if they miss they just miss.
Nope I'm with the training side of the camp.
Bear in mind that as civilisation advanced the logistics of keeping an army in the field advanced as well. So it was feasible to field larger armies.
Given that you can train a man to use a bow effectively in a week or so and it takes years to get proficient with a sling. The sheer size of modern armies dictated that you went for the easier to train for weapons. YOu wanted bodies fast - lots of them. Archers can be churned out extremely quickly. Slingers can't.
Also slings are only seriously effective with the correct shape and density glande. It's easier to make a poor arrow than a good glande. You need 2-3 ounces of lead to make a good sling glande. You need about half an ounce of poor steel to make an effective arrow head.
A fletcher does not need a forge - a sling moulder would. Fletchers therefore, are logistically more effective.
All you need to transport are the arrow heads and feathers (both very light and can be moved in vast quantities). The wood for the shafts can be foraged for en route or while encamped. Compare this to lugging tons os lead or dense rock around.
Again logistics of scale come into play.
It's sad but true that modern warfare owes more to the logistics of fielding an army than the quality of the soldiers themselves.
If you want to read about the logistics of battles until you're head hurts and you've got facts and figures leaking down your brain and out through your nose - then read harry turtledoves decalogy about the american civil war soldiers who get transported to an alien world. I kid you not, ten books with nine books worth of logistics info and one books worth of plot. I gave up about 6 books into the series.
But it's true

Logistics killed the sling.