Depending on the weapon, that -4 per increment is still a better deal than what I came up with. :/
Although, from what I've read on my side about bow ranges, what came up was how the average archer tended to be comfortable in ranges around 30 yards, which is the longbow's 100 foot increment.
Past that, i'd agree we're stepping into competition shooting. Which means you'd need to be a very dextrous archer to make a shot into 50+ yard territory without trouble. (+4 dex to cancel out the -4 penalty)