AoS is arguably the best PvE exotic primary.
Most exotics have a niche use, though. And you have to separate PVE from PvP.
I think for PVE, NLB is hands down the worst exotic. But it can be a beast in PvP.
The 4th horseman is a terrible general use weapon, but in certain scenarios it is amazing (strikes with arc burn/specialist for majors/ultras).
But AoS is the best handcannnon archetype with max range, firefly, and essentially a 100 round mag. It's better than Fatebringer!
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Zhalo, Bad Juju, Tlaloc, Boolean, Outbreak Prime, and Red Death are all better PvE exotics than AoS. It's fun, but just meh
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Tlaloc is the best exotic primary when super charged but that's a no brainer. Boolean, maybe, it's very solid although offers little over a standard mid impact scout in PvE (I'd argue it's actually better in crucible than PVE). OP yes esp against fallen. Bad Juju maybe on patrol or low-level story mission but it's DPS is terrible and you can't even kill a major in a strike or raid with a single clip. Red death is only better in the rare situations where your health doesn't regen (Crota, Oryx shade), otherwise a mid-impact HC is better. Zhalo actually sucks outside of arc burn, even if it's arc burn and specialist it's pretty much a garbage peashooter.