No Killer. Max point blank range is not when the bullet fall's below the line of sight but rather below a pre determined distence below the line of sight. That is why to change the MPBR you change the size of the target.

Think of it this way. Your shooting at two target's, one an 8" target and one a 6" target. Your rifle is sighted in at MPBR for the 8" targetand your shooting at the MPBR for the 8" target. A hold that when aiming at the center of the target will hit the bottom of the 8" target, go 2" under the 6" target. When ever you go beyond the MPBR of any size target, you then have to raise the sight's to get the bullet to hit the target. It's true you may not have to raise much but you will have to raise them to make a hit. If the above 8" target was at MPBR at say 200yds, you hold on the center of the target but it was moved to maybe 210 yds, you'll miss by shooting under the target. You needed to raise the sights somewhat to stay on the target. At the same time at mid range, the bullet will now go over the top of the same 8" target.