ah that way! I see were you getting from, but i dont fully agree with you. (Bow) Shooting is indeed far from overpowered, but i would not call it useless. It is good vs chaff, but yeah often largely ineffective against big blocks of (elite) infantry or heavy cavalry. And for me that feels quite realistic. If you look at historical battles(yeah, i know it is a fantasy game) archers should not stop full armies. The reason why battles like Agincourt and Carrhae are so famous is that they are going against the odds, but here the archers were aided by the circumstances (mud and French arogance in the case of agincourt, and endless stepes and time in the case of Carrhae). You will find hundreds more historical exemples where archery prooved highly ineffective, or just not powerfull enough to stop a combat oriented army (
currently you indeed dont see many orc boyz with bows, but that is because you dont see orc boyz at all. Ocasionally people use a small unit of arrer boyz as an expendable flank unit or warmachine guard. However, you do see orc armies with many Night gob archers (100 strong with poison banner) or Savage orc big uns with Bows instead of add handweapon. And both type of lists have been winning big tournaments (backed up with artillery off course). In my old orc list i always felt i did not have enough light shooting to deal with those targets artillery is not efficient against and have started to use Gtilla the hunter with ca. 12 wolf riders on a regular basis, and they usually are my MVP and instrumental in winning many battles.
I also disagree with your comment about the arched trajectory. Ok, you cant really shoot over houses in warhammer, but although the rules dont specifically say it the volley fire implies an arched trajectory. Also you can shoot over/passed your own troops and the -2 to hit modifier sounds quite realistic to me as arched volleys lose quite a lot of power.
You are quite right though that the rate of fire is indeed not to well represented in whfb.