What lens you want depends how you will use it, of course. The 200-400 isn't better or worse than a fixed 400mm. Most of the time for my shooting I need the longest focal length possible. But if you have to zoom, you have to zoom. My equipment has to be light and agile (and not 10K). An 8lb lens that requires a big tripod and a Gimbal head to shoot action will not work for me. But that's just me. I am mostly photographing birds, and often have to hike in where I need to photograph. Zooms always add bulk to a lens. Ever see a Nikon 200-400? Geez, what a monster. Great lens, but....
You could easily hand hold a 500-600mm f/5.6 EF-S. The slower speed helps a lot, as well as the much smaller diameter of the lens required to cover the small sensor. If these are ever made, I believe they will be very popular. But Canon has no incentive to make them as long as folks are willing to shell out 10k for their current teles.
The best chance for these EF-S tele lenses may be Sigma, etc, but they seem to love zooms, so I doubt I would get my fixed focal length wish.
Ed