I'm now level 80+, and I haven't noticed it to be too weak. But then I've also maxed out the Commando perk, so I'm doing a lot more damage with Unlimited Potential, since it's an auto-laser. I've also fully upgraded it.
It's definitely my go-to weapon, especially since I've got thousands of fusion cells, so no need to worry about running out of ammo.
Occasionally I'll get out a different weapon, as Unlimited Potential is no good for sniping, for instance.
I also got the Explosives perk that gives me the throwing arc so I can aim grenades better. That's always fun and helps get enemies behind cover.
And yet, despite Unlimited Potential + frag grenades being my main weapons of choice, I'm still overloaded with random weapons (as are Piper and Dogmeat). I've got them all "just in case", I guess.