So at the cost of two Lt. slots, three doff slots, tanking of aux power to an extend, and potentially messy rotations you gain the ability to knock the cooldown of your other powers down to global and use just one copy as if you had two plus a bit of extra power but without 100% up time.

Yeah, not seeing the overpowered angle considering the number of doffs that reduce cool downs innately, tac captain ability, and the opportunity cost. Instead it allows for more builds/options with ships that would not exist without it. And that to me is a good thing.