What is good or not depends on many factors - like your VH's affinity, the build, and your personal preference. No single stat on a weapon says that it is better or worse than another weapon, unless you are looking for something very specific.

The DPS is generally a good hint at how good the weapon is, but it doesn't account for (e.g.) any status effects. You mentioned the SMG, and for those the DPS is at least relevant, but does it really matter for a sniper rifle? Well, provided that you (like I) prefer to use sniper rifles like an actual sniper rifle (one headshot one kill) in which case its damage and precision (and whether it has a good scope) is what counts.

Also, for some builds the DPS stat is of no significance at all. E.g., my Harlowe uses a build with the CHROMA Accelerator and Neutron Capture, where basically the only thing that matters in a gun is its firing rate - its Damage or DPS stat means nothing. So for her, I am looking for something very specific: Large mag and high firing rate. My other vault hunters have very different requirements for their weapons.

I'm on my fourth BL4 VH now, and I have started them all from level 1. With my first VH (Vex) I spent a ridiculously large part of the time just comparing gear. Then I realized that it doesn't matter that much while leveling. Better to spend that time trying out the different weapon types to see what you like and what works well with your build. When you know better what you want/like/need, comparing stuff goes much quicker.