I'm one of the lucky few to actually get this exotic and i believe its rare enough and requires much more skill than something like wormhusk, that it is perfect at the level it is, if you wan't Exotics to "Feel" Exotic then i believe One Eyed Mask is a perfect example of a powerful exotic that is in a perfect spot. :)
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An exotic which grants overshield consistently is OP, I’ve only come across a few with it and they dominated as it basically means 1v2 is now in their favour, or if you happen across them your basically at a major disadvantage and then just help them refresh the overshield. Health regen and tracking fine, overshield - no.