Well, it didn't sneak up on you and surprise you, it's been there for a while. Read through the feats section in the Rules and Mechanics thread sometime, you might be pleasantly surprised (or not, given your reaction).
I suppose if you don't want to go down the spring attack feat chain, and you aren't worried about upping your touch AC, then yes, this makes a better feat. It's not better in all circumstances, and neither is Dodge, so again, I'm confused as to why you think this is "must have". Certainly, for some light armor builds it will be better, and for some it will not.
But hey, if you want to make this standard op for your characters, I've got no problem with it.