Sure but it's not just dps output where BLU shines, it's the utility.
Second Wind, Diamond back, Offguard, Gobskin, Peculiar Light and even the ability to essentially "switch roles" alongside being able to keep dps up will replace ranged physicals as it stands.
If BLU turned into a viable lvl 80 job as it is now, then ranged physical as a role will be phased out immediately, like what happened on ShB launch with double blackmage.
The only way you can balance BLU is by taking out the utility, and turning it into a normal caster, which I say "please no".