If the massed firepower of the bomber formations was so ineffective, the Luftwaffe sure went to a lot of trouble to develop weapons that enabled them to attack the formations while staying out of the range of that ineffective firepower.
It depends how you define effective. The armament of US bombers, even when used in mutually supporting formations, as intended, did not allow unescorted bombers to survive determined fighter attack and to pass through hostile air space with sustainable casualties. Since that was the raison d'etre for carrying all the weight of the armament, to the detriment of the bomb load, it was ineffective in its primary role.
From a German point of view it was effective enough to inflict casualties on the attacking fighters, and it was obviously in their interests to mitigate these by developing systems that would allow the fighters to attack from longer range. Few of these systems were successful and none were as effective as cannon.
It was not the bombers that defeated the Jagdwaffe, it was the US escort fighters. Without those fighters the USAAFs could never have carried their campaign to the heart of the Reich.
Cheers
Steve