Key is defining what you mean by balance, which I think "relatively viable" is best summary of. In PnP, the classes are not balanced, neither at the beginning nor in the middle nor in epic. Period. In DDO, the classes are not balanced either.
However, in PnP, most classes are relatively viable. Ranged combat is not relatively viable to melee -- not even close. I would guess the logic behind DS is that it will help to close that gap. Yaga is right that it doesn't both on a cost basis (feats, APs) nor in terms of output. My only concern is that even if DS were fixed ranged combat will still not be relatively viable.
To make ranged truly viable, they need to focus on improving the impact on Manyshot, adding similar tactical feats to ranged as someone mentioned, and adjusting the environments to make ranged more usable. There are certain situations where ranged is very close to viable in my mind (SC, Shroud 4-5 possibly, etc.) -- figuring out how to incorporate those "features" of the quest into the game would help some as well I believe.