Not for Bladesingers, it's not. It's not in their equipment, so they have to buy it.
. . . I didn't say "action" in my post. If you mean cantrip, I meant that you have to give up one of your cantrip slots for the combo.
All reach weapons have a lower damage dice than non-reach weapons. Whips, Pikes, and so on all have lower damage dice than other weapons you could use.
Free damage that costs a cantrip slot, two feats, and a bit of damage from your weapon being reach. That's not "pretty much free". The fastest it will come into play (for non VHumans) will be level 8.