Well, psions don't burst single-target damage like sledges or snipers. Sure, a crit Cryo Orb is sweet but you won't see a psion landing a 7k Psionic Execute crit on someone. And even with 16 Will, the spammable psi attacks do roughly single-shot gun damage (and cost more AP, too; especially if you aren't using Tranquility). So that part is sort of apples and oranges; psi is just different.
Of course, all told, psi is really very strong, but that's not to do with hit chances so much as an excessive synergy in psi abilities that other attack mechanics can't match, plus the incomparable OP-ness of Premeditation and LoC. Though you could of course just let that sniper pick up Temporal Manipulation, ambush snipe or aimed shot crit, Entropic Recurrence, and skedaddle - nothing's coming back from that precipice.
I've played most every high-level build possible in UnderRail (which is an embarrassing admission to how many hours I've put into this game) and the miss chance doesn't feel unfair to me. The miss chance for normal weapons is part of what differentiates characters. Normal weapons have a greater risk management requirement because of that miss chance, but pay off in higher single-target damage, higher frequency of attack, lower cost for individual attack failure, greater variety without cost to build (for example, there's no opportunity cost to your build for using W2C or incendiary rounds or a shock sledge - it's just part of the variety built into your weapon of choice), and greater base survivability because of the higher health and the lack of need to dump precious stat points into a "dead" stat like Will - you're putting points into Perception and not getting ambushed so much, or Strength and carrying more and wearing better armor, or Dexterity and getting better initiative.
I might also suggest that putting bars on 10 and 95 lets the underlying math be more favorable to the player. You can smooth the probability distribution without having to account for extremes, and the player gets good feedback in when they've invested enough into their primary stat.
Plus, hey, misfire a few fireballs and kill yourself because the throw error was 4 tiles and you caught yourself in your own attack, and you'll look wistfully on that 1-in-20 miss from a bullet while you wait to reload
