Hipfire grip is useless on a pulse rifle. It makes no sense why it has that perk in the first place when nobody hipfires with a pulse. Give it a different perk like encore or eye of the storm. Make the hipfire grip intrinsic to it just to replace the full auto perk on it since full auto fire is already part of the options in the game.
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For a minute I thought you were going to say that it's basically an exotic with Thresh and (insert damage perk of choice), and then you mentioned Hip Fire Grip. So now, I have to agree with you AND point out the fact that it's just an Exotic with Thresh and (insert damage perk of choice). And now I remember why I never use it.