I dont see what the joke is really.
It's the highest damage scythe you can get @ level 70, for one.
There isnt a higher damage untill 72 with Martial and Y's scythe.
Delay is 513, with the exception of BlackJack (501, damage 90) The delay vs. damage aspect makes this the best scythe per swing for TP, delay, and damage AGAIN, untill level 72.
(although, I'd go with blackjack if there was an option, but there isnt because there isnt any around ever)
For its level, this scythe isnt only not a joke, But it's the best option out there. I plan to use this until I can get my hands on Orichalcum Scythe or Tritons @ level 73.
Just my opinion.