Nope, you are in hip fire. You don't aim down the sight until you press R3, at which point you're in first person and therefore your camera and point of aim are aligned perfectly.

Yes, @RainSenshi , I understand the specifics of this game ☝️ but it's not hip fire. When you press L2, the character aims. The crosshair is where the bullet should go, I guess 🪖