I'm one of the lucky few to actually get this exotic and i believe its rare enough and requires much more skill than something like wormhusk, that it is perfect at the level it is, if you wan't Exotics to "Feel" Exotic then i believe One Eyed Mask is a perfect example of a powerful exotic that is in a perfect spot. :)
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I guess I kind of want to put in my two cents on this. I feel like it does need nerfed but nothing too major if anything just reduce the length of tracking. This exotic feels powerful because of how long the tracking works. Engaging someone with this exotic on is easy especially with Ace and a momento mori proc. Once you get vengeance it's a two headshot kill with ace (possibly a faster ttk than Luna's howl haven't timed it.) The major thing is you have such a long time to kill the marked target that it's easy to to do. Reducing the mark time makes it more of a mad dash to get the kill you need to proc it instead of being patient and finding a good time to strike or constant peeking. Before anyone says anything like "You're a warlock main" or "You're a hunter main" no honestly I don't main any class specifically I've put in a lot of time in all three classes. I've used most of the exotics from all three too. Hunters have Gwisin vest right now which is absolutely stupid considering spectral blades is pretty damn strong as it is and you get to practically extend it for a good majority of the match and chain kills. Warlocks don't really have an exotic per say that gives them a distinct advantage except maybe Chaos reach with Geomags even then iffy on whether I'd say that's broken in anything aside from gambit. One eyed doesn't buff your super but the class in general it gives you an overshield on kill of the marked target and the mark lasts roughly 15 seconds (From what I've timed in quickplay). Reducing this by half to 7 seconds would make it a lot less viable in the instance of marked kill rinse repeat because now you're rushing but still keeps this exotic at a pretty good strength. It'll feel good when you get the proc and be un-noticeable any other time. However if they don't nerf this exotic I do agree they should rework other exotics to bring them up to par. As for Warlocks having super strong abilities or exotics the only "strong" exotic I really see is the karnstein armlets and atomic breach combo long range melee plus a bonus explosive damage on top of health regen on kill pretty strong if you can use it correctly. Otherwise only good pvp centric warlock exotic imo is Ophidian Aspects basically giving all weapons quickdraw and snapshot sights plus faster reload but doesn't really buff the warlock just the weapons. In conclusion though I do believe One eyed deserves some kind of balancing just not the whole "nerf it to the ground" that everyone wants. It's strong currently because of the amount of use it's getting right now. Having an entire team of these in comp is absolute torture for the enemy team and being a person that's marked puts you constantly on edge about the possibility of getting shoulder charged or shotgun aped. It's a great exotic don't get me wrong I like the ideal behind it but it's currently up as an s-tier exotic with Gwisin Vest being it's only competitor in the tier list in my opinion. If anyone disagrees please make an intelligent argument as to why.