Ph pros: Very good pp management with a lot of unconditional damage boosts. Has a very user friendly mobbing tool of the rifle.
Ph cons: no survivability, highly reliant on dodging, maximizing damage output and pp management is harder than other classes especially if using the Katana.
If you are a summoner, this can be easily bypassed. A summoner does not have to worry much of the cons (if you have the coin that is...).