In addition to the "grabbability" requirement already mentioned, there are a couple of other aspects.
If you look at the front ends, you will find that most service rifles have the bayonet fitting on the top band (Mauser types and derivations thereof) or end cap (Enfield No1 MKIII and variants) to reduce the stress on the barrel. A type like the Enfield No4, with the bayonet load taken solely by the bayonet lugs on the muzzle, is unusual, and that too had wood support right up to the foresight.
Furthermore, the combination of a thin barrel (by target rifle standards) supported by a full stock is lighter than a short stock and a thick barrel. And surprisingly rigid.