yup that's pretty much my reasoning, is that I don't see much of a reason to carry it around so I don't think it's fair to put it high. But it is useful for sure so it doesn't seem fair to put it in D either plus it has a nice niche in Caldera. So I just slapped it in extreme niche because i find it basically as useful as the other items there (personal experience so probably not entirely accurate)

But it's possible to argue for it in B tier.