Does anyone else find SMGs to be underwhelming?

They eat ammo like crazy, have short range, have a lot of recoil and their reload speed and weapon handling is roughly the same as assault rifles. They have also worse headshot bonus and armor penetration stats compared to assault rifles.

Im trying to do a SMG playthrough now and it feels really underwhelming. At short ranges, shotguns are superior by far, and at medium ranges, assault rifles and LMGs are better.

They are particularly bad against bosses, you can burn through 500+ rounds fighting a cyberpsycho easily.