In it's current state I believe the charge is lackluster in doing it's job to detonate charges. The aura for detonating things close to the bullet is pretty small, probably just half a block or less. Yes it deals decent damage, and yes it does blow some things up, but it still falls prey to the same old problems of trying to detonate a crowd of enemies. Very rarely do I ever see the charge bullet continue on to blow up a second target.

There are two solutions that I've thought of.
1) make the charge bullet pierce, and reduce damage to compensate for that. (would not like to do this because this'd probably remove the high stagger rate that the charge bullet has)
2) make the AOE for detonation 3 times larger, so that players can expect a group to blow up if they aim between the enemies.
Alternatively, there's that old suggestion where Catalyzer explosions detonate other Catalyzer charges.

Increasing the radius does mean that to an extent, it's less skillful, but on the other hand option 2 opens up more avenues for a skillful shot to go through a crowd and blow all the enemies, or explosions will keep enemies away from the charge bullet, allowing it to fly farther and detonate more enemies instead of stopping at an enemy.

In general usage without decent crowds, the catalyzer is quite underpowered compared to basically any other gun. In compounds and danger rooms, enemies bodyblock the charge bullet from detonating further explosions making it not effective at what it's supposed to be doing. If you want to use the Catalyzer to detonate a crowd, you may have to fire another couple charges to wrap up the non-priority charged targets.
Catalyzer still needs to be easier to detonate.