It's considered to be 'balanced' due to the fact that it's hyper-rare. However, Heretic did say that it would be looked at if it proves to be out of line (which, imo, it inherently is).
That's not balance. Rarity just means it takes more effort to get, which probably indicates it should be a little better than stuff you get with less effort. But in the end you have to imagine a game still working sensibly when everyone has the hyper-rarest items in the game. Because that's where the game is inevitably heading!