I actually quite like the axe (paired with the focus off hand). You just have to understand how to build around it, and that it is almost exclusively for a single target burst damage build.
The object with an axe build is to stack lots of vulnerability and then use Ghostly Claws (hance the focus off hand, as it stacks more vulnerability). The auto attack of the axe is very minimal damage, but unlike many other weapons, that attack is not meant to be your primary damage dealing spam attack while skills are on cd. It’s purpose is to stack the vulnerability you need to use Ghostly Claws.
The axe also works well with a build that focuses on using Life Blast in DS rather than the axe auto-attack as your main spam attack when Ghostly Claws is on cd.
So essentially a good axe build works by unloading all of your vulnerability stacking skills (axe #1, focus #4, and WoS mainly), then unload with Ghostly Claws, then go into Death Shroud and hit 3-4 times with Life Blast, then pop out of DS and either unload another Ghostly Claws (which should be off cd by now) if you have time before vulnerability falls off or else start restacking your vulnerability… rinse, repeat.
I’ve run it a bit, and it’s actually quite a viable build. It’s drawback is it’s lack of significant AoE. It’s great on a single target, but lacks when you have to deal with multiple targets.
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