I think any argument against realism is irrelevant since there are actual examples of guns in the game that ARE realistic.
[spoiler]though I did hear that hand cannons don't use 'bullets' but that the case you insert into it is almost a battery pack that releases kinetic energy or something? [/spoiler]
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Well, the ammo you pick up isn't actually 'ammo': they're blocks (most likely engrams) that are turned into ammunition. For example, Rocket Launchers and Machine Guns use the same purple cuboid instead of their respective rounds.
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That was exactly my point.