Lots of people forget that this also adds a decent chunk of flat damage, which often times can make up for the damage lost by bleed/occult infusing the weapon
Just now started using it,apparently its been nerfed but I've gone 23 games as of writing this and proced bleed in 2 hits sometimes one on my secret bleed build. One guy I hit twice and bled twice pretty insane.
Jesus Christ, this skill is pathetic now, you're better off using a blood grease and leave it at that, I really don't like the way that from nerfs to the ground everything that's remotely fun, happy for you pvp folks, but for us PVE players is an absolute annoyance