It's fine as is. You do damage and give enemies hit by it a debuff. It's unique and works well if used right.
Then again, you also called the arc bolt sword useless, so you just outed yourself as not knowing much.
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Also I never said it Bolt Caster was useless, I said Young Wolves Howl was about as useful. Though still pretty bad in PvE.
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In PvE? It's not a DPS machine like the other two swords, PvP it's fine... but as far as PvE goes it doesn't do enough damage with it's R2 to be a viable choice.
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It's not all about the r2 damage output. The thing is a repeating melting point. We played with it in the raid and without using the celestial nighthawk strat were able to take out aksis in two damage phases using one of these swords, two dark drinkers, and cannons/sleepers.