Good post. Wording isn't Bungie's strong suit.
I, for one, think FRs are where they need to be. In 2.0, I was able to get kills with Susanoo from insane distances. This is a mid-impact fusion. The reason it was so deadly is that the bolt spread was non-existent. With even the slightest of recoil control I could group the whole volley in my enemy's chest. Now, the recoil requires a skilled hand to tame it.
That being said, fusions of most arcetypes are monsters right now. The Thesan-FR4 that the gunsmith sold last week is godly. I can get kills from 2-3 times shotgun distance easy - sometimes further with good recoil control and leading. Unflinching and hot swap lets me panic switch to special and get a kill in situations where the enemy definitely had the drop on me with their primary.
High charge rate FRS can be just as deadly if you plan two shots. If you land half the first volley, it throws off the enemy's aim long enough to get a second volley off. Or, a high charge rate FR with hot swap can be used to finish an enemy off. Put a burst of pulse into them to get the shield down then switch and hit with just a couple bolts for the kill. I'm loving all my FRS right now.
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I don't necessarily have a problem with now needing to control the recoil, but on some FRs it still feels really unpredictable and unnecessarily difficult to pull off. The Panta Rhei, for example. Half the time pulling down on the stick works, and half the time it doesn't. But a trend I'm seeing here is, of the people that are saying FRs are fine, they only mention the ones that come with very high base stability. You yourself mentioned the Susanoo and the Thesan, both of which have no problem with stability. I feel other models are doing significantly worse and could use some looking at.