I use Jade Rabbit a lot in PvP, and the perk has come in handy a few times. Granted, I've never deliberately chained body shots for the extra precision damage; it's more of a serendipity thing: I happen to miss a couple of precision shots but am rewarded with a slight damage buff my next one. I definitely get what you're saying though, and the increased precision damage isn't particularly significant. Jade Rabbit comes off to me as filling a particular niche. Sturdy... reliable... nothing too fancy, but it gets the job done, and can do it well in the right hands.

Unfortunately jade rabbit’s stats are the only good thing about it, the perk is absolute garbage, they should have changed it for something that requires only headshots or only bodyshots for a bonus. I think i would actually love a scout rifle that landing three bodyshots blinds the enemy and launches them into the air and the fourth shot does 3x damage with an elemental explosion.