Picking a mod shouldn't mean you have to make a decision between original condition over what the mod does. Most of the mods give a better effect but provide another negative effect, yet the positives still outweigh the negatives (mostly), and if they don't, then the mod is designed poorly. The only thing they should do is provide an adequate negative effect, while still providing a positive effect in another way, to avoid being overpowered in comparison to non-modded guns.
Also if the damage drop off effect is significant enough, it could allow players to decide if its really worth using in mid-long range guns, particularly ones like the OBIR and Obeya (even possibly ARs) that would get a large range gain. The point is to close the excessive range gap IR opens and I feel that this is more creative than doing something that doesn't work like more recoil, bloom, or anything in terms of gun handling.