I tend to lean towards them being underpowered. And to some degree yes, when you create an economy, and release something into it it is fair to contemplate it's value.
I have played around with the spear and shield fighter concept (using the cleave to throw feat), at the end of the day I am not sure that increasing the thrown range compared to a trident is worth the feat, it certainly wouldn't be a no brainer.
Taking a look at my prospective build I would grab tratnyr at 8 (but I am not sure it wold be better than a stock feat like toughness) but would certainly sell it back at 11, and likely wouldn't bother to grab it again until I ran out of good options in the high teens.
Since this is at best an obscure build, the best build I can possibly come up with for taking this feat, and the feat is niether integral nor optimal for it, I am inclined to say meh.