The Black Talon Exotic Calalyst as you know increases damage of the heavy attack after successfully guarding against damage.
There are 2 issues here. First is that with the change in sword mechanics guarding drains your energy which reduces your damage making it completely useless.
Second is that the catalyst has lost all sense of individuality. The new sword trait “counter attack” is identical to what the catalyst is and falls on quite a few legendary weapons.
I’m not saying to increase the damage of reversal (but if you do that’s fine), just please give it something else to give an exotic back it’s individuality instead of leaving it as it is. I used Black Talon a lot until the sword changes happened and I feel this was overlooked.
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The catalyst allows you to do as much damage as a fully charged heavy attack for 1 ammo. Typically a fully charged heavy attack uses up 8 ammo. Not the flashiest perk around, but far from useless. Bungie should probably change the description, though, so the benefit is more obvious.