Put Bipod to it and it's a lasersharp super-high firerate gun, that does 30 damage a shot. Yah, real professional weapon.
All guns should be useful somehow. LMG's are useful when you have a bipod, otherwise the recoil is everywhere and it's too difficult to get kills, unless you're right in front of them and spray. The LMG's primary role is to suppress enemy units and cut off areas, that's why they have so many rounds and the class is called support.