I intended to point out that .40 is best served in full size purpose built firearm (rather than converted 9MMs) and once we put those caveats on it the 10MM is capable of doing everything a .40 does and more.
Jack of all trades / Master of none
That obviously works for some people
.40S&W is indeed great with pistols designed for it (not a 9mm platform converted to 40, like Glock 22 and 23).
The problem I have with 10mm is that my preferred platforms/pistols are not chambered in it and the extra power that it offers isn't generally welcome for my applications.
Very few pistol models are chambered in 10mm. Also, 10mm practice ammo is harder to find locally and is pretty expensive.
My favorite platforms right now are the M&P40 and Sig P320 40. Neither of those pistols are chambered in 10mm. But if they were, I'd have one in 10mm, though I may still prefer to carry the .40S&W.
I do shoot 10mm on occasion, and have a Colt Delta Elite and a Glock 29, but neither of those come close to offering the qualities that I really love about the M&P40 and P320. A Glock 20 comes a bit closer in doing so, but still no where near as nice to shoot (in my view) nor as comfortable in the hand as an M&P40 or a P320. So, for me, .40S&W truly is
the sweet spot and 10mm doesn't fill that spot nearly as well.
As far as your comment of "Jack of all Trades, Master of None" that's a catchy phrase, but not quite appropriate as it could be loosely applied to many different choices, caliber aside. And really, for many jobs, a Jack-of-Several Trades is a much better choice than a Master of only ONE, anyway.
Why, you might ask? Every firearm you can name is a compromise of one or several factors. Too much compromise in any one aspect may be not so desireable.
Often, the best choice is a happy combination of several important factors, with minimal compromise of any of them. For me, with .40S&W, that happy combination is a nice blend of: good capacity, good power, & good controllability.