Look at Battlefield 4. That's a balanced game. It was accomplished with a long list of buffs and nerfs.
If the exotic hand cannons are nerfed, then almost all weapons will be in line with the exception of autos that need a buff.
Non-exotic hand cannons are fine, there's nothing wrong with those. The problem is the exotic ones.
The only other op weapon there was, was the vex. Now that it's range is nerfed, I'd say it's fine.
Now it's The last word and Thorn left. Maybe Hawkmoon for PS. (not sure)
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Exotics are supposed to be a better choice than a legendary though.
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They're supposed to be unique. But not have an effect on balance or variety. They're not supposed to be inherently better, they're meant to be different.