Guard have one of (if not the) best cheap infantry troops. Crunching some numbers the stats seem even worse to me (and that's just looking at infantry squads with no weapon upgrades let a lone conscripts).
Firepower output against various targets was in the guardsmen favour in all situations apart from MEQ where Fire Warriors and Guardsmen were roughly equal. In taking damage the Guardsmen were again best, losing slightly more models, but losing less points of models against all weapons regardless of AP.
When it comes to buffing the infantry the Guard appear to have better and cheaper options as well; For morale we have Commissairs vs Ethereals and for extra shooting damage there is Officer's First Rank, Second Rank Fire order vs Cadre Fireblade.
It appears that a Guard gunline with Character buffs is just plain better than a Fire Warrior gunline with Character buffs. Not surprising that we see Guard Infantry in their tournament winning lists and not many Fire Warriors in Tau lists that do well in tournaments.
Hopefully some of this will be rectified in the upcoming Guard codex, but until then I agree with you and we Guard will be hard match up for those of us that like to use Fire Warriors. Until they we must use the advantages we have:
1) We can compliment the gunline with effective deepstrike units, eg. crisis suits protected by gun drones
2) We are faster (with battlesuits, drones, and even kroot) so should aim to dominate the mid field and maelstrom points
3) We have range, particularly with our fire warriors, we fire first at 30", they advance and fire at 24", we call mont'ka with Ethereal reroll Assault moves, and enter 15" rapid fire range along with gun drone range - being more points efficient means nothing when most of the enemy infantry is dead
You'll be more familiar with Guard than I am, what tactics can suggest we use against the points efficient Guard ?