I know its niche nowadays is that it has high strike damage which is nice, but that really doesn't explain how much less AR this 50 str, 25.5 weight sword has than Greatsword and Lothric. If it were just slightly less I'd understand, but its a pretty significant difference. Especially now that Ledo's Hammer is in the game which basically negates that niche unless someone REALLY wants to use an Ultra Greatsword with strike for the style of it.
They wouldn't even necessarily need to improve damage though, imo If they increased its use as a shield and improved upon its defense and stabiity, make it maybe even just a shield in general with 100.00 physical (but 49 stability and not so great in elemental defenses to balance it out.). I think that'd be a really interesting niche for this sword to have along with its strike damage. Its too bad they seem to be a bit afraid to take another look at this weapon for fear of making it op again, when there's ways to make it stand out more without doing that.