People seem to be stopping at the math about 1/3 done. They just look at theoretical DPS without ever applying it to the actual game.
Hand Cannons Suck if every enemy in the game was a level 2 Dreg, with low HP, No Armor and You could hit every shot you fired to their head and got a 1to1 shot/kill ratio.
Actual DPS applies scaleing health, variable damage bonuses(some enemies only take 1.5 headshot damage), shields, missing your shot, landing a body shot, armor/defense, overkill damage, focus and gear bonuses.
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That was a simple comparison to other weapons. By that logical, those other weapons would still be better in other scenarios. For the record, it was also tested on higher level enemies.