Once you upgrade it to have 300 attack it seems to perform alright in PVE, but in PVP the best you can hope for is 15 critical damage which means best case scenario is a 14 shot kill... I've been using this thing all week and I feel its a mid tier weapon at best. It's not worth farming for. By the time you get the Crux of Crota to drop I'm sure the game gods will have blessed you with a Husk of the Pit.
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The more I use it, the more it grows on me! I feel like this gun has the better damage than other guns of comparable fire rate.