Somehow, you`re all getting total off topic.
The original question was wether precise shot is unbalanced or not. (Can`t you let the horse rest in peace? Why have you still to beat it?

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I say it is not. You take a feat, and loose a penalty. (Like with Wepaon Profiency). You still suffer some other penalties - targets engaged in melee might give cover to each other.
And many fighters and barbarians really love to be hit by the archer`s arrows.

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But for beating the dead horse: Somewhere, Someone gave some clues why two weapon fighting might make sense for a ranger:
Two Weapon Fighting is a option for the ranger, not a duty.
Imagine someone trying to sneak through the forest (or some other "natural enviroment". Sneaking means: I avoid heavier armors, because you don`t get better in it with armor. So, you let the shield at home, take a chain shirt / leather armor or whatever light armor you might have.
But who knows what happens? If you get attacked, you will want a weapon. Hmm. Greatsword is a fine weapon - but on the other hand, it is very large. Not really good for sneaking and moving. Let`s take a smaller one - longsword perhaps?
Hmm. But we still have some place - one hand is free. Perhaps, just to have still another fighting option, get a dagger and a short sword. Now let`s go.
What can we do, if we are getting attacked now? We get out the sword. Hmm. But we aren`t well armored. And our weapon doesn`t have such a great reach. Perhaps you should take the second weapon in the off-hand, to be able to hit more often.
Even if not all of this is reflected by the core rules, it may make sense. I am fine with the ranger...