Neither of the bows have a viable ratio when it comes to out-damaging melee (not even close), and neither bows will do enough damage to root-rot something without driving you insane. The damage is just pathetic on both bows.
Rain Caller does have an absurdly high range, which is nice for pulling. Very noticably further than Runed Oak Bow. I'd say that puts it a class above Runed Oak Bow. But does that make it worth 3k-4k? Probably not... it's an overpriced item in my opinion.
Frankly I'd rather have an idol of the thorned in my range slot than a runed oak bow, and just pull with spells. Rain Caller is a decent compromise-- stats with archery.
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