No, measuring velocity doesn't tell you where the load is tuned, only the target can tell you this.
There is average velocity, and then there is velocity spread. You don't gain from a poor velocity stat, but the idea of tuning a load for pre-loaded ammo is not done by watching chronographs, it is done by focusing on the target data.
That is not to say you shouldn't measure your velocity and use that information to help select components and close loop on your workmanship and cleaning, but avoid the concept that there are "velocity flat spots".
These "flat spots" evaporate once enough samples are used. We do however want to avoid really poor SD/ES issues that indicate problems with ignition, workmanship, cleaning issues, poor materials, etc.
A chronograph is critical for learning about your workmanship and the recipe. It also tell you about climate effects and cleaning. So while it is important and very useful, it doesn't lead the load tuning in the way many folks assume it does.
If all you have is 500 yards at home base, but you plan on competing at 1000, there is no way to call it anything but a disadvantage. However, you are not the first or last who has no access to full distance. Use what you have and do everything you can to get the 500 yard performance down. There can and will be effects that show past 500 that you can't anticipate, but you can still compete.