It's not that good, sadly. The abilities you are given before match start range from mildly useful to downright detrimental. The weapons in the match run on about the same scale. It's Challenge mode here you fight other players instead of mobs, with even more restrictions. The idea of it all sounds good on paper for a balanced PvP game, but the execution is wildly inconsistent. The game doesn't have the best of syncing in PvE already, but that's not an issue since you're often only really interested in you and the server being on the same page. It's much different when you're playing hitbox guessing games against other people.
Is it servicable? Sure. I don't find it expressly hard to do and a lot of people playing it don't know what they're doing and are just in it for the SG, so it's easy to rack up kills with a little bit of smart play. But, it's about as fun as Warframe's Enclave. The combat here just isn't deep or designed enough for it, and being good or bad at it comes less down to anything involved with the actual gameplay, and more just playing slightly smarter than the other guy.
I don't imagine it'll stay active beyond the novelty of it once people realize how much effort it's going to take weekly for some of them to get the coins for SG, but it'll likely still have a small niche community at least. Moreso than Challenge mode, since you actually have some worthwhile rewards from this.