I belive I've hit on a solution fot the various exploits and balance issues concerning the guns: Just delete them. If you think about it, they don't really add anything to the combat.
Against skeletons, they're more or less useless, save for when you're sniping a boss from your ship, which is boring and an exploit.
Against pirates, they only serve to hurt the swordplay. The Blunderbuss punishes close range fighting, and introduces an ever present threat of instant death without warning. The Pistol and Eye of Reach (basically just 1 gun) serve as substitute Blunderbusses, incentive running away, make bunny-hopping obligatory, and turn underwater battles into contests of who-saw-who first and hit reg contests. They also make aim an important skill, which would be nice for a shooter, which Sea of Thieves is not.
For all their costs to combat, they don't provide many benefits. You could argue they punish mistimed sword lunges, but the sword already does that. You could argue they make spacing an important skill, but spacing in this game is a matter of running away from people.
If the guns were removed, swordplay, the closest thing to an in-depth and skilled combat system the game has to offer, could florish. Hit registration, double-gunning, balance and other issues would be solved.
The only issue caused is with gunpowder. For keg skellies, one can just take away their ability to cancel the fuse. Now you can blow them up by just running at them and then away from them. You would also lose the ability to remotely detonate kegs, but I don't think that was a good mechanic to begin with.
Edit: Another idea would be to keep just the pistol, give it knockback and a stagger, but reduce damage to 20. Now it's a spacing tool, mind game, remote barrel detonator, and a niche finisher. I feel in this state it would compliment, but not outshine the sword, like the guns do currently.
