Also writing a review to clarify some rulings per 1.7. Per "Swap": if you are swapping two weapons that share the same name then the will inherit the previous card's state/tokens. See Dougmacd's comments, as they are correct in that ruling. Where this card is still incredibly strong is when you swap two cards that DO NOT share the same name, which is allowed by using a Deadpool's Katana or similar upgrade as the swap target.
When you swap a Katana with a non-Katana: "the in-play card is considered to leave play and the out-of-play card is considered to enter play. Tokens, attached cards, tucked cards, and status cards on the previously in-play card are not transferred to the other card and the other card enters play ready. If the swapped card has an associated hit point dial, that dial is reset to the new card’s printed hit point value." This is what allows you to infinitely cycle a Sonic Rifle or Hand Cannon, as you would either be using it then swapping it out of play or swapping it into play and then using it. That being said, 2-counter upgrades (like Sonic Rifle) will not be usable every turn, as they would use both charges before going out of play on the second turn. 3-counter upgrades (like Hand Cannon) can be used both turns. That being said, a card that lets you confuse every other turn forever or gives you +2 ATK and overkill every turn is pretty strong.
