More worthless junk.
Especially when you compare it to the potential power levels of the legend/mythic only heat and energy melee weapons. That physical melee weapon also wastes its stat points on something the UI doesn't even show you. It drains the total heat and energy of your target, but that trait is totally meaningless for a physical weapon to have because, as a physical damage dealer, you're never going to ever seriously impact the heat/energy levels of your opponent.
Which is why that weapon has an 'epic' stage, while the superior items have no such epic stage.
It also has anti-synergy with probably the best 2 physical weapons, the Nightfall and the Annihilation, because those weapons rely on fighting your enemy as close as possible, to try and 'duck under' the minimum range of heavy blue and red weapons, like the upgraded versions of those blue and red epics you have in that screenshot there.