Fusions are the same as shotguns.
There's what, maybe 2-3 that are actually good and the other 97 of em barely get used at all.
Yet Bungie nerfs EVERY fusion beacuse 1 does too good.
Oh well, it has always been hilarious to me that we can have the same 3 Handcannons and shotguns top the pvp boards all year round and nothing is ever done about it, but the moment a Fusion rifle or some other random gun tops the charts, you'll see everyone and their grandma crying about how OP and broken it is.
I'd say balanced with the caveat that pellet shotguns need some help via a rework to improve their power and consistency within their old 8 meter range, and remove them from contention entirely beyond that.
The problem is that because pellets still have bad consistency and don't have any OHK range, Fusions kinda dominate. Slugs exist, but are naturally unpopular due to a Precision requirement. And Lord of Wolves is unpopular for... I actually have no idea. But both destroy Fusions when played anything close to well.