Yes, it's the most annoying power in the game, especially since 9/10 Puggernauts have no idea have to use it.
I'd say it's pretty usless also in solos, I never use it as I really dislike it.
Regarding his siege pulse I always go with the extra shot, makes a really big difference for survivability and damage output if you use Incendiary ammo, especially for Cerberus wave 7 platinum where you want to spam it as much as possible.
I don't use it in solos either, a mobile juggernaut is an alive juggernaut, once he slows down and stops, he dies.
On Topic:
The problem with NOT going number of shots is you basically have to dedicate EVERY cooldown to Siege Pulse, no chance to drop a turret for spot heals, aggro mixup, or fire priming, no chance to drop a hex shield to block that ravager/scion blast.
To compare damage vs resistances per cycle (4b+5a passive, powermag, 4a siege pulse, power amp iv):
Number of Shots: 7776
Resistance Damage: 8166
This doesn't count the cooldowns getting out of sync with the shots if you don't take rank 5 recharge speed. On host, a cycle is ONLY limited by recharge speed/time, which is where incendiary ammo is great. And you should never play a Siege Pulse or Biotic Orbs spammer off host, the latency between shots greatly diminishes their ability to cause burst damage.