More range doesn't always mean more advantage.
As you can see, even point blank Torr still has the frame advantage to recover from bowl girl on block and fire off a d.3 (which is like 12 or 13 frames) and trade evenly with Cassie's 6 frame reversal.
You are right about animation advantages, though, just its not range dependant every time.
As far as
that goes, the best way I can explain is that Ferra just operates somewhat seperate of Torr.
As far as range goes, it doesn't differ much between point blank and max range, only about 1-2 frames.
Just to put it in a frame of reference, set the opponent to pushblock on reversal.
Stand just out of reach and hit them with a ferra move (sweep is the easiest to example with)
Watch what happens.
Ferra herself is a seperate hitbox from Torr. If her and his hitboxes are in the same area then they both are hit, however Ferra basically acts as a second body for all intents in purposes. A body that doesn't take damage.
This is why she can eat projectiles that have collision boxes (i.e. not bullets). Because the game reads her hitbox as something that satisfies the "hit" requirement, she can soak it. She just doesn't take damage.
I could go in but this gets into very complicated stuff. I don't wanna just force it out there if what I've said thusfar will suffice.