More specifically, the fact that it has a vertical blast radius equivalent to an atomic bomb's mushroom cloud is what makes it OP. There's no reason why it should kill me when I'm 30 feet in the air, Bungie. That's just overkill.
Edit: Let me make it clear for all of you. Fist of Panic is a ground pound. The important word there is "ground". Fist of Panic, a "ground" pound, can take out people 30 feet in the air. That's my problem with it.
Now watch as the people who abuse it come to defend it.
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In case you haven't realized it... This game is designed to have MANY OP things. You WILL get nuked at certain times. The key to winning is to make sure you are the one nuking at critical times... IE when heavy ammo is out, a blade dancer is coming, a Sunsinger rez's, etc.