This is where reasonable regulation comes into the picture.
Which to a good degree we already have.
There is no reason to believe the Second Amendment is intended to allow people to bear arms of any kind, regardless of their nature. We have arms those who adopted the Second Amendment could not have dreamed of and, as they were largely reasonable people, I think they would not have sought to protect.
The Second Amendment protects right to keep arms now as much as it did then. The word "arms" generally meant the weapons in common usage. Biological weapons have been used going back to ancient times, but the Founders didn't mean one's right to keep plague on hand. Things like nuclear, biological, and chemical weapons, and things like battle tanks, attack helicopters, bombs, etc...are not arms. Regarding modern firearms though, these are regulated too. The degree however to which gun control advocates seek to regulate firearms would be like claiming that the Founders could never have imagined the Internet, radio, television, and so forth, and therefore it is okay for the government to censor those.
I'm not a hunter. I've never felt the need or desire to kill animals; I see no sport in it. The thought of taking pride in killing creatures far more stupid than I am by use of a weapon which allows me to do so from a distance without any risk on my part strikes me as silly.
I don't hunt either as I also do not like to kill animals. However, hunting unto itself is a very regulated activity. The types of guns, types of ammunition, what animals can be hunted, where they can be hunted, when they can be hunted, etc...is all very regulated. The taxes on much of the ammunition that is purchased for hunting help pay for wildlife maintenance and hunting itself serves a useful purpose for wildlife management in that it keeps down populations of animals that otherwise would spiral out of control leading to many freezing to death and/or starving in the wintertime.
However, not all hunting is without risk. If you are hunting grizzly bears for example, there can be an element of risk there, because you have to track the animal, and you can shoot the heart out of a grizzly yet it can still have enough energy to run over and kill you.
So it goes without saying that I find the thought of using more sophisticated firearms for that purpose particularly pathetic. The fact that one could use an M-16, for example, to kill deer does not impress me, nor do I think it is pertinent to what reasonable regulation of firearms may be. I could use artillery to kill deer if I was so inclined, but that doesn't mean I have a right to own artillery.
Artillery is indiscriminate weaponry. You don't use it to shoot an individual person or animal. And for the most part, you can't use an actual M-16 (automatic fire variant of the AR-15) to hunt with. You can use an AR-15 (semiautomatic), but even then, only on smaller game. As for using a semiautomatic rifle for hunting, semiautomatic rifles for hunting go back over one-hundred years. Using a lever action, bolt-action, or a pump-action isn't all that much different with regards to hunting.
What is reasonable regulation requires a balancing of interests, weighing the potential for harm against the constitutional right. If people want to possess arms of all kinds merely because it pleases them to do so in ways that need not be explored, or because they think they can use them to protect themselves against a government which, if it desired, could kill them at any time in a number of ways even if they were armed to the teeth, these are unreasonable expectations which should not form a basis on which to limit regulation. Of course, certain kinds of regulation may be unreasonable as well. But the focus should be on what can be done to limit the availability of firearms to those who would use them to break the law giving due deference to a reasonable constrution of the Second Amendment, not on fetishistic devotion to the "right to bear arms."
This is a semi-bigoted view whether you realize it or not:
1) "...because it pleases them to do in ways that need not be explored..." Yes, because all gun enthusiasts are men with small penises who get off on having a big pile of guns and are otherwise paranoid, delusional little boys with psychological problems. That people who own multiple guns may just like guns in the way that some people like shoes and some people like cars is not considered.
2) The government, even if it desired, could not kill the entire population possessing arms. We have seen this with the resistance in Syria and we see it with the caution the Chinese Communist party takes with regards to its own people (one could only imagine the threat the Chinese people would face to their government if they were armed like Americans). If the people are armed, there are only so many places that the government can attack, and send troops. But again, resistance should always try to be peaceful. The people being armed serves as a counterweight to the government otherwise having a monopoly on force.
3) Why is it that strong devotion to defense of rights like freedom of speech, freedom of religion, right to choose, privacy rights, etc...is fine, but strong devotion to defense of right to arms is looked upon as "fetishistic?"