Buffing everything up to the power of lord of wolves will not fix the problem, but instead, it will create power creep, making other weapons more irrelevant than before, and forcing bungie to design encounters that are made with insanely overpowered weapons in mind.
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It's in an okay spot in PvE now. Nerf it in PvP instead. Knowing Bungie, they'll probably nerf it to oblivion, anyways.