A couple things to think about.
OF range is tied to OF + plays. There are several different types of + plays in the outfield.
-Catching the ball (the simplest)
-Preventing a runner from taking an extra base (the next most common)
-Dropping a fly ball that other outfielders wouldn't have reached (very annoying, the +/- play)
-Throwing a runner out when taking an extra base (exceedingly rare, but I have seen it)
So if you want to say that outfield "range" is tied to outfield "arm" then you're right. The range is the only factor that determines things that are typically determined by the player's arm in real life.
(But remember, in RL, arm and range are not totally separate either, if a player gets to the ball quicker than the runner expects, he can throw him out even with a weak arm)