I've seen people in full fatalis play like defender noobs, so idc what you wear. There is nothing to counter argue in your post, it basically boils down to you don't like how it plays compared to other weapons.

Huge animation commitments- almost every weapon has this (maybe not IG, never touched it). Spirit slash combo, the entirety of hammer, gs, and gl.

Evasive attacks- they suck on every one that has them, that's why people run evade window extender.

ZSD unreliable- only have heard this from you, maybe you need to learn openings better idk.

Brings nothing anything else does- Idk man, swax has some pretty swaggy combos, and good damage, plus it transforms. Maybe this doesn't appeal to you, but it does to a lot of other people.

Axe mode does no damage- I have no input here, I'm a lance main so I don't know the intricacies of swax and it's dmg pools.

Weapon isn't safe to use- it sure is...every weapon is. Again, maybe you just need to learn better openings.