Stats from the Google sheet: near damage = 75, far damage = 50, crit multiplier = 2.0, far distance = 2000, so OHK headshot up to 38 meters (same as Hemlock's 1 burst kill range). Projectile Speed = 12000 (faster than Kraber which is at 10000).
It is basically a "pocket DMR" (except not hitscan), perfect side arm for Grenadier weapons or in Pilot vs. Pilot. The hip fire is 100% accuracy, the red dot sight makes ADS headshot much easier, and the projectile style makes the kills feel more satisfying.
Probably also a great companion for DMR: if missed DMR head shot, switch to Wingman hipfire to finish.
Probably feels most powerful to mouse players though. Thanks for the tip of OHK body shot of regular Wingman amped, I should definitely try it in Pilot vs. Pilot with Amped Weapon boost. However, it does seem useless when not amped, poor hip fire accuracy and ADS is clumsy to use so head shots are hard to acquire. 2 ADS body shots are just too slow to be of any practical use.