First, let me start off by saying, the nerf to black hammer was somewhat crazy; as it rewards a skilled hand, but its understandable because it is a legendary that had an exotic perk.
But now that Black Hammer has "evolved" into an exotic, Black Spindle, should it not have its exotic perk back? We are giving up an exotic slot for it, it should be a little better than just not reloading.
Food for thought here, let's discuss below.
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It didn't get nerfed because it was legendary and had an exotic perk. It was nerfed simply because it was overpowered. A high-impact sniper rifle with infinite ammo and no reloading is way too powerful regardless of whether it's exotic or not. And now with sniper rifles generally having small mag sizes, Spindle's 3 per mag isn't as bad and being able to auto-reload is that much more powerful. On top of that, there is no more Efrideet's to rival it's impact stat. Yes, weapons now suck compared to vanilla weapons and perks. But that's the reality we are in now.