It's not so much that, it's that there is NO defense against it. Just about every other type of AT you have a counter for, the MBT LAW you have none, other than LOS.
It reloads the fastest, is basically a fire and forget rocket, so long as it gets near the tank it's a 100% guaranteed 20-25 points of damage, regardless of countermeasures.
None of the other launchers give you this much power. I don't care if it's easy to use so long as there are ways for me to mitigate the damage it does. As it is right now, you can't do anything but eat the damn rocket.
So yes, it needs to be nerfed or at least tweaked to be more in line with the other AT launchers.
Do you drive tanks a lot metal? I'm not sure how it is on console, but on PC, the damn rockets are annoying as fuck.
Kill me with an RPG, or any other AT and I'll say GG, you out played me, the MBT LAW however takes a great deal of the skill out of he equation IMO, since you don't have to compensate for really much of anything.
As Storm said, the balance between risk/reward is skewed with this thing IMHO.