@salazar-armando Possibly.
It's the only weapon capable of one-shotting someone, and its effective range is the most common range for combat in the game.
The pistol and sniper are both pretty garbage outside of specific situations, and the sword is only good because it's not limited by ammo and doesn't need reloading.
For PvP there's no reason to go for any weapon combo other than blunderbuss/sword, or MAYBE a second gun instead of the sword, but the blunderbuss is the one constant. You're hamstringing yourself if you don't have one, which is the primary sign of a weapon that's too strong.
The only reason I hesitate to say this is that the blunderbuss as it currently exists is pretty much required to repel boarders as a solo player. If it didn't one-shot people then it'd be nearly impossible to defend your ladders alone. I guess knocking them off the ladders is good enough.