Not overpowered, but good. It is great for taking down adds, because a kill basically reloads the gun. Kill-kill-kill-kill just like that.
DO NOT ruin this weapon's PvE capabilities for the sake of your PvP.
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It’s been YEARS and they still can’t work out how to tune PvP and PvE separately, and still can’t resist destroying any weapon that’s remotely fun for PvE.