I'm shooting wildlife and bigger birds; my main lens is the 100-500 4.5 to 7.1. When I look at my metadata a 300-600 would cover 75% of my shooting. I'm OK with 5.6 at 500-600, but I'm not in love with 5.6 at 300-400mm for a $6000 lens. A fixed f4.5 or 4.8 would be more appropriate for the price. I would like at least a full stop faster then 500mm at f7.1. They probably don't want to produce at fixed f4 because it would compete / replace their 600 f4 prime. The old EF 200-400 f4 with the teleconverter switched on is 280-560 f5.6 ( essentially a 300-600 5.6), but you still have the f4 option.
There is also a "rumored" fixed 5.6 150-600 L. This would be more versatile, but doesn't make alot of sense in that it would compete with the fixed 5.6 300-600. The Canon100-500 is 5+ years old; time for an update. I would love an "L" series 150-600 with internal focus, quality built & weather sealing, reasonable size & wt and image quality like the 70-200Z. Nikon and Sony don't have a semi pro version of their 180-600 / 200-600 lens. Canon will probably make two variants of the 150-600mm, ie: a fixed 5.6 L series and a variable aperture non L series to directly compete with Nikon, sigma, and Sony. Canon does this all the time; look at the various 24-105 and 70-200 lens. Who knows! Need some announcements !!!! Canon is clearly behind Nikon & Sony with regard to long glass. Time to catch up, hope it doesn't take a year or more!