There is only one major buff that needs to occur, specifically to bows with high impact/draw time. They need cause to flinch, like ALOT. To make them viable against higher rate of fire, higher flinch hand cannons.
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Only change i'd make to bows is to add the realism, like you should still be able to see the string when you're at full draw. Compound bows have a peep sight in the string and use a 'trigger' rather than pulling the string directly. Also why do we hold the bows in our right hands in the menus and then left hands in game?