Regarding utility, Katana is just great all around : Guren-Tessen is probably one of the best, if not the best mobility PA in the game, which is also good at mobbing and yields decent damage, Kanran and fudou have mediocre damage, but are insanely good for controlling crowd before using other PAs. You still have decent single target PAs with good damage, like Sakura endo and Hatou Rindou (the latter can actually provide really high damage once you learn how to sweetspot it properly). Combine that with Katana combat and counter edge, and you have a versatile, all purpose weapon. The only thing it lacks is a great "elevator-type" PA (Tsukimi does that to some extend, but it's nowhere near what Twin Daggers, TMGs or Dual Blades can offer)
Katana's damage is okay-ish, but kinda falls behind what weapons other classes have in terms of pure damage. However, Katana is reliable at dishing damage constantly and consistently so you can still keep up in terms of "practical damage", especially when swarmed with mobs . However, the lack of pure damage can be detrimental when dealing damage is the only thing you have to care about, like against stunned or slow bosses with tons of HP. what's where the bow part of Braver comes in handy.
Other people could elaborate on /correct this, but I think this is pretty much Katana's stengths and weaknesses, along with main PAs in my opinion.
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