That's definitely not true. In PvP the thing wrecks people. Of course you could do similarly well with Last Extremity, but it's more a matter of preference than anything. As far as PvE is concerned, it can DPS amazingly well against bosses because you loop the bullets and fire endlessly. ToM does have it beat in that department though, but it's a great alternative if you don't have ToM and I'm one of the people who don't have it yet.