Oh and if we bring up New Vegas, then Sniper rifles are overpowered, they all have a much bigger damage than pistols and they use the same skill, you can also get them very early as well...
Great.
Now go try and fight a Tunneler, Nightstalker or Cazador swarm with a sniper rifle.

That's the difference. Snipers are allowed to hit high in single shots because they're crap when dealing with swarms of enemies or even fighting up close. Likewise, a good pistol will work wonders on Cazadors or Tunnelers, but you'd never EVER consider using it against a Deathclaw or BoS Paladin.
People are simply asking for balance. They're asking for a reason to use one over the other in certain scenarios, but from the sounds of it, crossbows are strong enough to make bows obsolete. I wouldn't know if they do or not, I haven't played and it looks as though there's fair reason to believe either side: that they're balanced or unbalanced. I'm just debunking your anology real quick.

A crossbow isn't a bow... "overpowered" "underpowered" it's a single player game... who cares!
Apparently OP does, and I must say I personally believe balance adds to replay value, so I wouldn't mind it either, though I have no idea if crossbows are truly as OP as OP claims (woah confusing, OP meaning original poster and overpowered...) as I've also heard claims that crossbows fail pretty hard at long-range and are best used solely for close to mid range.
I'm not sure how it's "bad design". A crossbow was and is the ultimate medieval ranged weapon. These were knight killers. I remember seeing a steel briastplate on display with a hole the size of your first 2 knuckles in it, from a crossbow. It was on display not for the size of he hole (which was typical), but because the wearer survived.
But, again, the obvious choice here is, if you don't like it, don't use it. It's the .50 cal rifle of the medieval world. Not sure what people expect. Tickles?
Actually, not quite. I've been following this topic quietly for some time. I actually remembered the project director of New Vegas is a history major and had mentioned the crossbow vs. bow issue in the past. I asked him again which was superior "in history's opinion" (what happens when two opposing armies used them against each other) and this is what he had to say:
"The crossbow was the ranged weapon of choice in the middle ages until the Hundred Years War. At the battles of Crécy, Poitiers, and Agincourt, English and Welsh archers using Welsh longbows consistently defeated French armies bolstered by foreign mercenary crossbow troops. Crossbows could have a higher draw weight and required less training, but that was ultimately irrelevant due to the extreme speed with which longbows could be fired and the extensive national training of troops in England and Wales."As others have said, it seems the crossbow was the weapon-of-choice solely because it was easier to train people to use it, not because it was actually that awesome.