Its only op if your a noob and use fortfy smithing 100%, then everything is op
No, I have the Daedric smithing perk and at level 54 I can make a bow that does 44 damage, I put on 4 pieces of apparel with the 25% better improving and the damage goes to 85. I don't think that is too OP. It's when alchemy gets involved it gets OP.
In total my bow does 105 + 10 damage because of steel arrows. My sword only does 60 damage, any higher and it takes the fun out of a sword and board fight, IMO.