Saying that every mob in the game has a ranged attack is missing the point; most mobs' ranged attacks are much weaker and a lot slower (i.e. they don't attack nearly as often) than their melee attacks.

When solo, Shadowbind allows you to bind the mob, back off while it spams its ineffective ranged attacks so you can heal up, nock three arrows, and (of nearly the most importance) wait out the Shadowbind recast. The TP cost on Shadowbind is so incredibly low that you can practically loop Multishot and Shadowbind on anything you're having problems with, as long as the bind lands.

Even in a party, Shadowbind has the best damage/TP ratio of any WS Archer can use. The only drawbacks to it are the long recast and the huge stamina cost, but if you are in a situation where you have stamina to burn, Shadowbind is an extremely useful tool.