To be honest I find it a chore most of the time. L4D is a shooting gallery but it never looses any tension. Games can be scary with weapons if made correctly, its just that many devs put in weapons for the sport of killing instead of tools of survival.
And apart from DayZ, I can't think of any game that would classify itself as being "survival horror" unless you're talking about Silent Hill, but even that's a stretch sometimes. Edit: I guess Amnesia.
DayZ does it right because the entire game revolves around scavenging, but mostly its just a cheap way to add tension without using the actual game world. What's easier, making difficult enemies that make you think on your feet, or reducing the amount of ammo that spawns in the world?