They are very powerful. That's undeniable. They were made to be so, however that's not the major problem with them.
The main problem is actually 2 things.
1. The people who have them are usually sweaty tryhards who play and play and play all day, which giving the professional players powerful weapons just furthers the performance gap. The guns are great, but it's mostly the people who use them that are a pain to play against.
2. Matchmaking is incredibly RNG. You never know who you'll be paired against and, when solo-queue, with. The other pinnacle weapons take alot of work, yes, but you don't lose progress with them. You can lose glory points for loss, and due to the extremely RNG nature of matchmaking, individual skill is a moot point. The "git gud" mentality is completely flawed since it's the skill of the TEAM that determines the winner, and since teams are randomly generated, whether you win or not is almost entirely up to RNG. Being good only increases your chances, but doesn't guarantee anything.
Because of this, it is literally entirely possible to never be able to acquire fabled rank. That discourages many people from even attempting it or causes people to just give up hope on it.
The biggest problem here is that progress towards, or away from Fabled rank is up to RNG.
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I solo'd to Fabled just fine and got Recluse. I even found time to obtain Luna. My favorite thing about them was that I actually only needed to rely on my skills. What I abhor about Mountaintop is that 1/3 of the Triumph required to complete the quest is completely RNG I can kill opponents all day long, but multikills are just down to luck. Double and triples rely on opponents that group together so explosions will kill them. It's a shame too, because I really want a mini rocket launcher.