The only thing holding red death back from being great is that it has a very short range. Considering that it is a pulse rifle and is a mid fire rate pulse rifle which can't compete at close range I think it needs some more range so it can fight in the intended range for this archetype of pulse, or it should become a high impact/low fire rate pulse so high skill players can get the two burst kills like back in the early days of vanilla!
Comment below why you want the buff so bungie can hear us :)
Edit: Yes, at launch the red death was originally a high impact pulse but they latter changed it to a medium pulse rifle. I personally preferred it as the low fire rate pulse rifle.
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I may not have any version of the Red Death, but I want it to be good by the time I get it. Red Specter recently came to me( I earned it in salvage) as a force ghost of the Red Death telling me to not give up. Anyways, I really think Red Death has lost its power, but I still have faith that the rifle will be buffed in the future.