You misunderstand, while you're aiming down the sights, you can still do 111 damage (which is the hip fire damage modifier). It's a glitch that Bungie has yet fix. So basically, the TTK is the same over extended ranges, which is unfair.
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Aiming down sights doesn't increase the range, I mean it probably decreases the practical ttk but from a theoretical side,its the same as hipfiring provides the highest damage so that'll be used while calculating ttk.
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No, I'm saying that the TTK associated with the hip fire would only be effective at hip fire ranges. But with the glitch, it's effective at its ADS range, which is further than the hip fire range. So I was saying the higher damage output has an extended range in reference to its hip fire. But regardless, staying out of hip fire range should be the way to beat TLW but it's not because of the glitch. This is why it is OP. Having the fastest TTK at a limited range is a good idea, but that perk is broken.