I think based on experience (BTDT) that sounds about right.
FWIW and all things being fairly equal, I towed a 21'6"L x 7'W x 9'9"H TT that weighed fully loaded 4050lbs with a 2006 Nissan Frontier 2wd AT.
It struggled on hills and died in the mntns. 8.5 mpg. I had the 4.0L V6 as well.
I also had a 6500lb tow rating. 260hp. So pretty close as far as performance would be considered.
I traded up to an 08 F150 5.4 3.73 gears. Night and day as they say. MPG went up to 10.5. Towing was effertless.
JMHO but if you're a sunday driver who doesn't care when they get where they're going to, then it will be fine.
If you are the type that will pass people in a passing lane and like to run at a decent speed then you'll hate it.
What was frustrating was my Nissan empty was a pretty quick and sporty truck. Loaded up with the wife and I and the TT is was a big dog.