Yes, jump range needs to be used as a balancing factor in Elite Dangerous. Or rather, mass is the balancing factor, and jump range is simply dependent on ship mass. To that point, some ships are designed more towards top end jump range trading hardpoints and combat prowess to be lightweight, while other ships are designed with weapons and armor prioritized thereby skimping on FSD size. Without the balancing factor you'd get a super ship, capable of everything, that would be better than any other choices. Like the Anaconda is now.
The Anaconda is funny one.
But when you really look at it, it's actually very well done.
It can be geared for ultra-lightweight, reaching incredible jump ranges, but generally being useless. (Aka Jumpaconda)
But then you load it up with weapons, and heavy combat modules, and you can bring the range right down to 20~ly(engineered).
In this regard, I think FD actually got it right, and more ships should be able to do something similar.
A super heavy combat FDL/Corvette should have an utterly pants jump range, but a lighter weight version should be fairly good, while still being able to perform its role (although not as well as the fully laden one). And a stripped one should be able to jump far, while being utterly useless. Lol
CMDR Cosmic Spacehead