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Alert is a great feat, but for the usual optimized builds, you often have to pick a different class specific feat or the 2x ability boost. You only get max 3 choices per character.
Don't Rogues and Fighter get 4?
As to Alert being OP - I've never taken it yet but I suppose it helps.
IMO the game is random enough as to keep it withing bounds - going first does not prevent you rolling "1s" in succession on Attacks and/or Damage.
