I play with them as Soviets, and versus them as Ostheer and OKW. I capture them any time I can. Beats OKW's doctrinal MG34 POS any day, and is better than tripod HMG42 any day of the week.
Mg42 actually suppresses and covers area. OKW can just bum rush buildings and positions and instantly wipe the unit.
The unit retreats slowly and if the man carrying the gun dies the gun doesn't instantly teleport to the next guy, nope, they all die in the flames picking up the HMG one by one.
Against Ost the gun serves its role but against OKW it has very little value.