Better armor cracking alone is not enough to save Mining Blaster. Worse shot range (500 instead of 600) and worst flux efficiency in the game makes it a sub-optimal choice for everything except Hyperion. Hyperion can only get enough flux stats to fire a pair of blasters, either Heavy or Mining, so might as well take Mining. I suppose Mining Blasters would work on Harbinger, but if I want to go that way (instead of Reaper abuse), then dual AM Blaster Afflictor or Shade seems more useful against targets vulnerable to it. Then again, AM Blasters are rare, and Mining Blasters are not.
The only thing good about Mining Blaster is you already know it from the start (i.e., no need to find blueprint for it). It is also the starter Apogee's main weapon.