I am fine with and expected this nerf. I earned Lunas back in Season 4. Bungie always nerfs guns that are over used. Graviton Lance, Clever Dragon, Vex Mythoclast, Mida MultiTool.
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Vex was nerf before it was over used it didn't get a chance to be overused. But in general Bungie does nerf overused guns, the problem is they go overboard.
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I dont think Telesto was over nerfed, even buffed in PVE.
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They've been better in D2 with the over doing it. There's only a few over doing it moments, Nova Warp, Ursa titan gloves, wormhusk, maybe a few others. I think they went overboard on these hand cannons at first glance but won't know until they are used after the nerf.
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I'm excited to try it. A 150 with low recoil could be pretty good. It probably wont be any good in PVE anymore.
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The perk may be fine in PvE. If the bloom isn't terrible the guns may be fine.