Even new brass is not perfect. I have found some new Lapua 6BR brass that has the odd defect that makes it unusable for top accuracy (folds and creases only visible from the inside with a borescope).a lot of things can happen to the brass. Dents, deformations, and various twists. Sometimes these warps are not plainly visible to the naked eye.
If it was an occasional round that showed run out then I would suspect a defective case. Is it not preferable to have run out and concentricity checks on the brass earlier in the process of reloading?It your rounds are curved like a banana that gauge would pick it up. It will show if the cartridge is off-axis along its length.
Getting back to the original question, calling the tool a concentricity tester is possibly not an accurate term but it sounds good.
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