Why does my shooting velocity depend on the distance to the mouse? (I've normalized it!)

Code:

void Start()
    {
        target = Camera.main.ScreenToWorldPoint(Input.mousePosition);
        velocityDir = (target - transform.position);
    }

    void Update()
    {
        Vector3 velocity = velocityDir.normalized * speed;
        velocity.z = 0;
        transform.Translate(velocity * Time.deltaTime, Space.World);
    }

Gif:
alt text

set velocityDir.z to 0 before nomarlizing