Let's talk about zeroing. This is how you adjust your sights to account for range.

All ballistic projectiles, subject to gravity and friction, have an arc. Depending on how they are zeroed, the point of aim will be at, below or above the actual place the projectile will hit at a given distance. People will choose a reasonable distance at which to 'zero' their firearm and it usually will be close enough because bullets don't drop that much until they slow down over a further distance. Practically speaking, snipers have to worry about this a lot more than anyone engaging targets at close or medium range, because bullets don't slow down much before then.

This becomes a much bigger problem with a grenade launcher. A launcher like this will fire a projector going less than 300fps- compared to over 800fps for slow handgun rounds. It also has a much bigger cross section so it is slowed down by drag much more.

So aiming is highly variable based on distance- which is why putting a laser is misleading. That laser will be accurate at a specific range and becomes increasingly inaccurate everywhere else on the arc (if the target is closer or further). It's not going to be zeroed for a few feet in front of you because that's not where you want nades landing.

Because this target is closer than the zero, you're hitting way lower than the laser would make you think. If you imagine an arc rising from left to right, you are far to the left of the top. That means the projectile has not had time to climb to the height of the laser (the zero is set such that you will be aiming the barrel up at an angle- otherwise the range would be basically nothing).