Yes, a ranged user can still get off a number of shots. It's not a balance complaint. It's a statement that saying "I spend this turn drawing" is not a particularly fun experience.
And, no, GURPS doesn't really promote the kind of multi-minute assessment and balancing of options in the way the D&D 3.x does, for instance. Even when using Martial Arts. I'm not saying it's stupid or doesn't have options, just that you don't get the "well, if I move HERE through these, and I can do this, causing these.... " kind of garbage that extends turns in D&D 3.