To an extent, perhaps, but also I think the further away from the basket you are, the harder it is to shoot. Here are the percentages
at the rim: 64.5%
3-9 feet: 38.7%
10-15 feet: 42%
16-23 feet: 38%
23+: 35% (effective FG% of 54%)
To me, that's kind of what I would expect. You shoot the best at the rim, and the worst from 3, but you get the extra point from 3 so that makes it worth it. I am a little surprised that the 3-9 foot shot is about the same as the 16-23, and the 10-15 is better than either though. That seems to be consistent over the last few years.
What do you think people are going to shoot from midrange? I wouldn't expect them to shoot as well as they do at the rim, and I wouldn't expect them to shoot 54%, like the effective FG% on 3's is. I just don't think it's realistic to expect people to be able to shoot all that effectively from mid range. 2 guys in the league last year who took any kind of a serious number of shots from 16-23 feet made over 50% of them. Dirk and Al Horford (!). If the league shoots roughly 40%, could you work on it and bump it up to 42 or 43%? Maybe, maybe not. But that's still not anywhere near as efficient as the rim or behind the line. If the best guys in the league still can't shoot it as efficiently as they can from at the rim or from 3, I feel like that tells you what you need to know. There is always a place for mid range shots, and there are some guys who can make it worth it, but most of the time, they are lower percentage shots than the other spots on the floor.