The primary downside of this sword is that it will consume ammo on wellskates unless you are very close to a ledge and have extremely tight inputs, making it almost obsolete in situations where a player does not have much ammo. Bungie has said that it will receive enhanceable perks in The Final Shape expansion, which will make it a much more competitive option at that time.

Timestamps
0:00 how to get it
0:19 explanation/comparison
0:34 movement example