Indeed. Black Panther is a great combatant, but as far as raw skills go, he is one notch below the likes of Captain America, Daredevil, Iron Fist, Wolverine. He's a technical genius, but he's one notch below the likes of Reed Richards, Tony Stark, Doom. He's a political genius, but he's one notch below the likes of Lex Luthor.
T'Challa is more of a jack of all trades, than the master of all trades you're trying to make him out to be.
Also, Bullseye could hold his own hand to hand with the Panther. He'd definitely lose a majority, but he'd hold his own.
Giving him projectiles and distance just ensures T'Challa's death.