I don't have the 40mm since I already have the 50L...so I can't speak to the advantages of having two similarly focal ranges. However I can say that already having the 50mm covered, I can easily do what the 40mm does with the 50L.
My personal recommendation when building up your lens collection is to simply look at your own shooting style and see what fits. For me, I'd build my lenses based on several things, one of which is the "half/double" factor, ie. I started out with the 50mm; I needed something longer so added twice the reach with the 100L (and later the 135mm for other reasons); I needed something wider than the 50mm, so went down half the focal length and added the 24mm; I then later found that I needed something even longer than the 100mm to take care of sporting events, wildlife, candid street shots, etc. and the 200mm 2.8L fits the bill. My last additional was the much, underated and affordable Samyang 14mm which is about half the focal length of the 24mm.
I suspect if I were to acquire the 35mm first, then I would likely have added the 85mm and 135mm next, respectively. And if I were into zooms (which at some time later, I suspect I may), then the 16-35mm, 24-70mm, 70-200mm would likely be on the list.
Hope this helps.