With the cone you can apply ability effects in an AoE. With high INT and other AoE mods like Overseeing you can hit a lot of people if your using it cleverly. Offensive Parry enchantment is very powerful, too (100% Riposte in an AoE).
The weapon was everybody's darling pre 1.1 - which is a balancing problem. A nerf was inevitable. But I agree that the base damage is too low. I personally would have decided to go with normal base damage but make it slower than a normal great sword - it's huge. That would have the same effect on dps but wouldn't feel so ridiculous (why is that huge blade dealing so tiny damage?).
Or I would allow Run Through multiple times per encounter to make it more decent vs single targets. Run Through has high base damage (try it with Assassinate/Backstab). It it wasn't 1/encounter but maybe 3 or so I would be happy as well. Run Through is not mutually exclusive with Offensive Parry or the circle swing enchantment.
Edited by Boeroer, 12 June 2018 - 09:16 PM.