The Black Talon Exotic Calalyst as you know increases damage of the heavy attack after successfully guarding against damage.
There are 2 issues here. First is that with the change in sword mechanics guarding drains your energy which reduces your damage making it completely useless.
Second is that the catalyst has lost all sense of individuality. The new sword trait “counter attack” is identical to what the catalyst is and falls on quite a few legendary weapons.
I’m not saying to increase the damage of reversal (but if you do that’s fine), just please give it something else to give an exotic back it’s individuality instead of leaving it as it is. I used Black Talon a lot until the sword changes happened and I feel this was overlooked.
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So maybe i'm ignorant here since I don't have the Catalyst. But I don't see how your statements make the Catalyst useless. The blocking issue sounds like you just want the best of both worlds without a downside. Blocking cannot be free or swords would ruin crucible. Second i'm pretty sure counter attack has always existed. I don't see how counter attack makes the Catalyst useless. Both have the same functionality sure. But do they boost the damage by the same amount? And even if they did you're capable of doing the heavy at range. That's a big benefit.