Yeah there are a few jutus that have this issue. If this is the desired end point for risky, then it would make sense for past levels to be nerfed, right? If 5 is the max range now, then level 1 max range should be 4.
Jutsu's are balanced for the end result since everybody inevitably will max their jutsu of they enjoy an account. So early levels of those jutsu need to be nerfed to show progress and not make jutsu leveling a pointless endeavor.