I mean yeah you can't use it beyond medium range but if you can control the recoil and aim down the sights its still a beast. I think that alot of people arent using the sights, expecting the gun to perform well on the hip fire buff, but really all that did was shift the long range power to close range power. I think most are just upset that it isnt just easymode and you actually have to get close to kill people, but seriously, its Time To Kill is still insane.
TLDR: Last Word is still great because of its time to kill. Its balanced, not bad.
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Using tlw is a lot like using the nlb. I completely rethink my play style because of the harsh limitations to the weapon.