All it does is emphasise the worst parts of the crucible, it's not fun at all.
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I haven't played much (and was pretty terrible at it), but it seemed fun. The "problem" that I see with it is that it seemed to be extremely shotgun centric. That shouldn't be too much of a surprise because you are much more likely to be in CQC when you don't necessarily know where everyone is. I could see Bungie making some more adjustments to ammo for this mode. Have players drop primary, spawn in with less 2nd ammo and have ammo chests drop in the Heavy ammo time slots.