I always want to take this card, but what kills it for me is that third slot. That's a big ask for something that tends to be situational. I think this card was designed with higher player counts in mind. It's meant for a support investigator to back up your combat investigator. In that role it's pretty versatile and you can probably justify filling almost half your slots with it.
Not in one or two player. In two player you need to be able to fight or investigate reliably and with this thing hogging your best slots you're not doing either. It's worse in solo where you need to be able to do both. Those three slots make it useless as a backup or utility weapon. Maybe you could pull off using a combat spell along side this, but that's all you'll be doing. You better hope you already have a high book stat.
Thinking of ways I might improve this card; remove the exhaust requirement, have all shots spend a charge, and boost the number of charges. Alternatively, have it give you a passive boost to face and foot instead of giving it to you during the attack.