Great OP. My feeling is that the complaining about the long range smuggling being over payed is a joke--even an experienced pilot who knows 100% of the ropes who is starting over with a new profile is still going to take 100+ hours of single mindedly farming Shadow Missions to A rate an Anaconda, and much much MUCH more that that to get into a Corvette. The SM's provide an interesting way for people to get ahead compared to some other careers, true, but still very labor intensive.
People should just focus on how they play their own game and let others play it their own way.
Some people (myself included) are hacked off about the fact that long-range smuggling is by far the least ship dependent mission type when it comes to making buckets of money. Your proft-earning is essentially maxed-out by the time you get into a stripped-down Asp, and at that point is much higher than an Elite-ranked combat pilot in the most expensive ships in the game. Thus there is a trend going where pilots of other, less lucrative professions feel compelled to do shadow deliveries because they either A) really want to experience large ships, B) want to fast-track to high-end ships to make their preferred mode of play more profitable, or C) they think a bigger ship will make up for their deficiencies as a pilot, primarily in combat.
That said it's not really an issue with smuggling, but an issue with the bounty board and the activity reward structure in general. The vast majority of missions are deeply unrewarding to the point of parody, even at the highest reward tier (elite missions). Thus the best way to make money is to simply farm pirates or A-B trade routes, with the only bulletin board activity even remotely worth doing being the aforementioned shadow deliveries. This is a problem that needs to be addressed, but by raising rewards and offering better quality missions to combat pilots and traders that are worth doing without stacking a thousand of them beforehand by tediously switching modes for two hours straight.