Indeed talking about realism in that sense is probably pointless.
I would however worry about the melee vs ranged arms race that you see in WoW. They are forever having to readdress giving ranged away to keep out of melee character reach and giving melee characters a way to close the gap.
Ultimately I think it'd be a balance nightmare, either you can't get to melee range reliably enough and it's too weak or you might end up with being more than able to get in range and it ends up feeling way to stong.
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