Pipe Bombs are objects of Fun. Their purpose is to amuse people who throw them, and dis-amuse living beings in the blast radius of a given bomb.

Damage Falloff
<1m 1-3m 3-10m 10-∞m
with armor 120 80 30 0
without armor 250 160 80 0

Note that the same amount of knockback applies to the target regardless of armor.