The problem with "Target Nearest Enemy" (TNE) and similar options is specifically that it does not cycle between targets. A Huge point I can't stress enough.

I assert that targeting functions do not make navigating easier whenever there are more targets, which is the main time clicking is also harder. Especially in PvP, huge mob density groups and many other places with huge groups it's more of a chore than anything which is something that needs to change.