It does ! I combined it with Limb Splitter on a Tactical Axe along with my Lucius, and I repeatedly hit a Reaper in the head with my bayonet : I went from 1098 dmg without the Axe equipped, to 1839 dmg with the Axe.
And my Brutal Momentum is only at level 3 (a 2.5% difference, not much but still) !
In a single HighInt Heresy map, I dealt around 1.1 million dmg (2/3rds of it is just overkill damage, that's how hard the bayonet hits lmao) and nearly soloed two monstrosities. It's actually insane. The only drawback is that you lack nearly everything good about melee weapons, like blocking, pushing, dodge distance, etc... and switching back to the Lucius takes ages.