Usually, when you get a scope with 1/8 MOA adjustments, you give up a lot of "dial up". The Nightforce website says you get 60 MOA, which is a lot for a high magnification scope with 1/8 clicks. The NXS model with similar magnification is the 12-42x56mm. But that model only has 45 MOA total adjustment - and it is being discontinued.
Assuming you get half the total MOA for dial up, that would give you 22-23 MOA. Mount it on a 20 MOA rail and you increase that to about 42-43 MOA of dial up. If you are using a flat shooting magnum with a good BC bullet and a 200 yd. zero (say the 338 Lapua with Berger 300 gr. bullet @ 2750 fps), that gets you out to 1500 yds. Very respectable. With a .308 using a Berger 168 gr. bullet @ 2750 fps, you still get out to 1200 yds. Not bad at all.
For me, the advantages of the Competition scope would be the better glass and the ability to be more precise with the 1/8th MOA adjustments. The negatives would be the 5.0 MOA elevation adjustment per turn of the turret. It would take me 8 full revolutions with the Competition scope to get out to the yardage mentioned above vs only 2 full revolutions with an NXS with high speed turret. Plus most reticles in the NXS line give the shooter another 20 MOA in holdover, if needed.
The ultimate long range scope
for target shooting? You may be right. For long range hunting? Well, I will probably stick with my NXS. But still - another great scope from Nightforce.