Good question, personally I just don't like the (intentional) decision that was made to make it an all-ranges upgrade. Combined with flame nade it means that Volks can 1v1 any enemy squad, either by (a) closing the distance and flame to force the enemy to move around, or (b) waiting for opponent squads to close the distance, dropping models on the way and still winning up close (+flame +sandbag, usually). Basically they can turn any situation (offense or defense) into a favorable one and have consistent DPS output the whole time.
I would rather have a different upgrade that has even higher DPS, but is focused on either short or long range, so the OKW player has to actually think about positioning rather than just running stuff around from different angles and spamming nades.
BARs are an all range upgrade. LMG42s are an all range upgrade. G43s are an all range upgrade. LMG34s are an all range upgrade. IIRC, DP28s, and brens on sappers are an all range upgrade. Thompsons are basically an all range upgrade. Why are all range upgrades bad?
Volks have ranges where they can 1v1 most squads, but they will not holistically 1v1 most squads.