I'd add to that doing something about the MP40, the sheer preponderence of automatic weapons in game, and zooms given to smg's so as to make rifles -- especially bolt actions -- not only afterthoughts, but suicidal liabilities to the poor jerks who don't get into the game quick enough to snag an assault weapon.
Your problem is that RO taught you incorrect history.
The rifleman was NOT the dominant battlefield unit. They were the bread and butter, but they were never going to be as good in close as SMG's or at any range as MG's. Those last two weapons were specifically designed to overcome WEAKNESSES of the rifle.
You expect the SMG to be short range only, because other games unrealistically limited them that way.
Too many people confuse "maximum range" with "effective range". You seem to think the bullet covers 100m at 600m per second, then suddenly goes flying off wild or drops out of the air. That's not even remotely true.
The bullet still flies a mile or more unless it hits something. The reason SMG's are inaccurate has nothing to do with the power of the bullet, and everything to do with the primitive sights and other design decisions. The rifle is designed to be as stable as possible so that you can shoot long ranges easier. The SMG is designed to be lighter and shorter, making it less stable but much quicker to acquire targets with. They make it auto and give it a large mag because they expect you to miss, not because you need more bullets to kill, or because they don't go as far.
If you are good, have a stable position and take your time, you should be able to hit a target a 1000m away. You just won't do much damage to it.
Having said that, I regularly kill assault troops in close and at long range with the bolt action. You just have to approach the problem a little differently. You know the SMG guy can acquire a moving target better than a rifle, but their "spray and pray" tendencies cause the rounds to fly wild. So stop moving. You think you're an easier target, but you're not. He still has to deal with the inherent accuracy issues he has, while your lack of motion makes your rifle deadly accurate. So stop aim and shoot. You will hit and kill him faster than he hits and kills you, more often than not, because he's running around spraying wildly.
One more thing. If you are having to kill quickly, NEVER aim at the head. Centre mass ensures the greatest chance for a first shot kill. Aim at his chest and shoot. If he doesn't die immediately, you will be able to bolt (manual) and fire again before he can get over the initial hit. Thanks to the power, your second shot can hit him anywhere, and he will die.