Okay so I originally thought there was a problem but now I am realizing the brilliance of this mechanic and I want to share what I'm seeing with people interested in bows:
Ranged and Knives can both get Wound using a Specialized Skill.
The bow skill costs 2 grace to use, and only lasts a minute. During that minute, you get one wound every time you aim for five seconds. This caps at 12 wounds which is a LOT, but you have to keep shooting for that whole minute because you don't get to save any for later.
The knife skill costs 1 grace and gets you 3 wound attacks. If you have 2 grace you could get 6. Which is half the amount of the bow skill, which at first I thought was bad. But the point here is that the attacks can be saved for later and spread out a lot more. Not only that, you can also use them all much more quickly than a bow can. So you could spend both grace in succession to do six very fast wound attacks and take someone right out if you had two daggers in your hands. Of course you can't machine gun (I'm sure people will try, politely call them out on it!) so you have to wait a second between strikes.
But my point is that the dagger seems to have a worse grace to wound ratio because it is more versatile. I still feel like the risk / reward favors bows, because when you go in to stab someone with a knife you are super likely to get stabbed back and your response time is a lot higher with a bow. But they're both cool skills and I think it's neat how the different weapons are designed to be useful in very different ways.