Nope. Realism bows to balance on that one. Giants are nasty enough already without massively out-distancing the PCs with ranged weapons. So Diminutive and Colossal longbows have the same range increment.
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so a colossal sized pistol has less range than a melee weapon? that's dumb
If Paizo made rules for every little thing, the books would be twice or three times the size they are. There will be situations where things like this may not make sense.
Players do not generally walk around as collossal sized creatures. Alternately, when is the last time you saw a titan wield a gun in a fantasy setting, let alone have the knowledge and skill to make one? I don't recall any.The rules are primarily focues on medium and small size player characters. The GM can make adjustments or estimates if he/she feels they are needed.