This occurs by design, Rockfish. Though, typically it is more like 5-10 seconds, however. Internet connections, VPS, etc can all extend that time.
However, because of the current implementation of MP, it records one person's shot, uploads it to the server, then downloads it to every one else. That is the delay you are seeing. To rectify this, we will need to implement a lobby-based multiplayer system, which is something we are already looking at doing in the future.
Hope that helps.