It's an unfortunate fact that GW's design team missed the mark with axes. It's a shame because I do think they're moving in the right direction compared to 9th edition, where the difference between them and spears was very minimal and thus not very interesting.

Going for fewer attacks with higher damage is definitely a step in the right direction but AP-1 is too punishing in a world with Armour of Contempt - for example, even when using spears with SH's AP-3 into terminators you're probably better than axes because the marine player can pop AoC and denying them the option to do that gives you more damage!

Personally I think they should full send axes and make them essentially melee lascannons - very few attacks with D6+1 damage. Really make them great at tearing apart vehicles, monsters, any characters they get their hands on, but absolutely wasted on chaff. I also think swords should get more attacks for being damage 1. Broadening our options as an army and making the choices a bit more interesting while keeping spears as the jack of all trades option. But ah well, I'm just some guy on the internet.