Lol no it wasn't. It was a public event relic that was outclassed by Young Wolf's Howl, which itself was outclassed by Outbreak Prime.

The icon axe was a public event drop in the plague lands it was not an exotic. You can pick up the Axe in 2 different events around the P.lands or the Something called The Chamber bs. The only exotic that came close to the axe was the Exotic Sword that did a FireSlam to the ground that Lord Saladin himself gave to you after you completed the campaign or some side quests. So the Axe was not an Exotic it was like a Relic to use During public events or activities.

That's because it's an exotic weapon and not the Iron axe