Your first sentence is probably spot on. As mentioned earlier I haven't done extensive testing on this game yet, but enough to know that it's accurate beyond human comprehension in terms of distance. There is some inaccuracy still to be analyzed, but in the realms of 0.0X percent, i.e. something measurable but impossible to discern by hand.
Back to your first sentence though, and your mention of input lag. This is something that in most cases does not affect my analysis, but might in a major way affect how the game feels. For instance it doesn't matter how precise a game is if it lags 0.1 seconds behind, it will feel off. I don't know what the deal is with Valorant yet (still don't have permanent access!), but if this is an issue hopefully the devs will fix it along with granular scope sensitivity.