Auto, the quality of the base stock goes up, but the additive package reduces the level of zddp to accomodate the belief that it may shorten the life of catalytic converters. The oils do get better for late model cars, but the jury is still out on whether the newer oils may be as good in older engines with flat tappet cams etc.
Zddp has consistently been reduced and engine designs advance. Some older engines and lawn and garden engines "might" do better with an older rating that allows for more ZDDP. The newer and more expensive additive packages are meant to replace it functionally, but....I can't say how backward compatible they went.
Oil for Diesel (HDEO) and lawn equipment are not rated SM because they are inferior. It's the limitation on ZDDP for cars with emission controls.