Good points other than one thing. Tlw was not nurfed it was fixed. The gun was broken. The perk gives bonus critical damage [i]when firing from the hip[/i] was also giving the same bonus when ads. So many people abused this broken perk and then complained that the gun was nurfed when the fixed it. Tlw is finally what it should be...an absolute nightmare for people in close range combat, but severely lacking at medium and long range.
Oh and to answer your original question...it's about the money. If year 1 could compete with year 2 less people would buy the expansions. That's why every game shooter, mmo, etc does not carry over old content/gear. They want you to buy the expansions. It's that simple.
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They waited way too long to fix an active bug that was complicating pvp... But I think the other nerfs made it plain trash. Where I aim.. it doesn't hit. Also, the usable distance on it [u]almost[/u], allows a shotgunner to beeline for you and shoot you before you can take him out. Used to be fun, now It makes no sense to use it. Aww, I'll still pull it out once in a while for an extra challenge or some flippity flappity action.
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Yeah its a fun gun to use. But I don't like to get that close. Too many shotguns and that insane warlock melee range to deal with.