I've got your answer! My husband has shot like this for years. If you have good form and get used to shooting this way, you can get to be just about as accurate as you were before. This will take practice!! It takes constant concentration. If he gets distracted or has a lot on his mind, he is ready to throw his bow in the trash as his groups will be larger. On a typical day he can group a 4 inch group at 40 yards. I have yet to say his form is correct. He has a few things he needs to work on, like an anchor point other than the kisser button, and making sure his left arm (he is right handed) is in the same position each time.
If you learn or have learned correct form, you can be just as accurate. But do not be discouraged when at first it looks like sheet music. Have a buddy watch your form to make sure you do everything the right way each time....or get someone to video tape you (get a side shot and one from the rear) as you shoot so that you can see for yourself any mistakes you might have made.
Best of luck!! I'd love to join the ones that shoot like this, but I am new to the sport and am still struggling with good form myself.