They have been converted to a few other calibers over the years. 25-06 being not too uncommon a conversion. Bigger cartridges do run the risk of beating the op rod to hell. Even loading heavy projectiles in 30-06 can bend an operating rod.
There are a couple of good reasons why you don't see more of this. First, they aren't as cheap and plentiful as they once were. Back in the '60s and '70s it made economic sense to sporterise WWII guns. Now, not so much. Second and every bit as important, back when they did more of this stuff with Garands they learned that the M1Garand's legendary reliability goes to hell when you start changing caliber. You can mess with it and fiddle with it to get it to work, but they work well as built with military ammo (or rounds close in weight and speed). Add to that the fact that you will be starting with a shot out mess of a gun in the donor gun price range and you are asking for trouble.