Leadball is correct in that the schuetzenized Rugers seem to have less cachet than the rifles built on more "traditional" actions like Ballard/stevens/'walls" etc. If you rigged an outside hammer spur on it it might make a big difference
However that does make them attractive to guys who are just getting into the sport.
it also does not make them any less accurate. thinking back, as best I can

, over the past few years of shooting on the Etna Green range I recall seeing some matches won with ruger barrelled rifles so they are capable, however winning matches is done by the shooter, the rifle is just the tool he uses. Most winners are guys with a lot of experience, in the game, and with their gun.
I think
most of the bench rest matches are won with dedicated rifles using modern design short-stroke or strikerfired heavy barrelled and bench stocked rifles chambered in modern high velocity (for lead bullets) small capacity cartridges. I don't recall a bench match being won with a "traditional cartridge" in a while--I may be totally wrong on this but its the impression I have.
In offhand it seems to me that most of the matches are won by guys who have been shooting their guns for a long time and again they are dedicated offhand rifles.
If there were a match that required the use of the same rifle, stock, sights, and load for 50 shots bench and 50 shots offhand it'd be interesting to see what evolved over a few years.
I see no reason why a well tuned and set up, properly stocked #1/3 in experienced hands should not do as well, especially in offhand. As a pure bench rest gun the lock time even with a lighter hammer and improved springs might put it at a slight disadvantage. but there are so many other factors . .
In fairness I should add that I LIKE the Ruger SS and have 2 of'em set up for ASSRA competition, one in 22rf for the 200 yd bench targets and another in 38-55. I'm wanting to build a #3 as an offhand rifle.