Is it really that good that people are repeatedly buying it?
Never used it myself and not really a fan of rocket launchers, but this thing seems to be very popular.
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In D1 is was very much required to run certain raids according to LFG posts. It was especially useful for certain mechanics such as the Crota fight to keep his shield from regen-ing. On top of that, it was top tier DPS all the way through PoE. In fact it was pretty much the ONLY weapon that could do the Skolas fight at the end of PoE before they changed his health. Despite it's bugs it retained this title until Bungie nerfed it. When they brought it back in Rise of Iron (I believe) it still had bugs but they reduced the damage by quite a bit. Still pretty useful I found back then but it was far from being BiS as it was before.