Youd think it would since lunafactions work. Lunafactions says "rifts increase weapon reload speed. Empowering rift increases range" and both of these effects work on well of radiance. Sanguine alchemy's description says "rifts grant enhanced radar and mark targets" and it doesnt work with well of radiance. If this exotoc was fixed well could actually be useful in pvp and can be used as a more tactical super belonging to the anchor of the team. Please bungie try and take a look and tweak the old exotics noone uses rework them fix them etc. So we can see more diversity with exotic choices.
Edit: theres alot of forgotten exotics in need of tuning, lets try and get this out there for bungie to see and hopefully work on a solution.
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Play momentum with it. It's great. Running a HC or smg you can camp close quarters and scout have a hard time fighting at that range. I added a bunch of paragon mods and get mine back 10 seconds after it runs out. Tomorrow I'm gonna run well and as long as a teammate touches my rift or I hit them with an over shield I can always have one up