It is the flaw with most uniques, I guess. I had the same experience with Bracchus complete set or Kniles daggers.
We have not progressed that far, so yes, so I have not seen this sword myself, but being in Driftwood now, only Ifans unique crossbow so far can be considered a great unique and this item you get for free, as long as you have Ifan (or use him to just get it, I guess).
Second probably would be probably Bracchus helmet, just because its curse offers kind of a nice freeze immunity.
Migos Ring and the the teleportation gloves are just worthwile because of the free skill they offer.