I don't think it's that short, my CTS has less first gear and even it doesn't run out to soon. I can start my CTS with little to not throttle, and it was easy for both my children to learn to drive, 1st gear is a 3.50 and I think the rear is 373 or close to it. It's not until you get up into mid to 400 rear gears that 1st starts to run out noticeably quick with the M22 or even an M20.
The M21 and 22 close ratio were more desirable in heavier cars because the RPM drop from first to 2nd with the wide ratio M20 it was more noticeable when racing. It's isn't that obvious on the street, even with some spirited driving IMO.