Jazz
Inactive
Klas raises a great point.I can see the (at least) morale effect of having a machine gun firing in one's direction - even when only a fraction of the bullets may reach one's exact "area". Just noticing bullets rip into the ground 20-30 meters close to you could be enough to have an effect.
IFT results other than actual casualty reduction (KIA, K/, boxcars) are more about the target's perception of being exposed and reacting to fire than that fire actually hitting anything.