Guess you have never been in a rocket launcher fight and watched people continue to shoot the ground under you because you suddenly stop?
Guess you have never witnessed how amazing it is to be able to just sit in mid air and destroy the -blam!- out of everything when airborn is on (or the one where you do more damage, not take).
Yeah it's not the best exotic, but they are leaving a lot behind so perhaps it will be one of the more useful ones in the right situation.
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In PvP no one really fires at the ground for rocket launchers, everyone has a launcher that has Tracking or Grenades & Horseshoes, so that's pointless. With Airborne on, I see your point, but beyond that the helmet doesn't sound impressive at all. Warlock's already have the ability, and there seems to be the new blue auto rifle in TTK that could provide it anyway.
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The autorifle doesn't give this perk, it shoots chain lightning. The Titan in the video just so happened to be wearing this New helmet at the same time but we didn't know.
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Well they are nerfing grenades and horseshoes