Well, when using it to absorb bloodlines and make better ninja, it's also kind of terrible.Hiruko's that guy that later developed the Chimera Technique, to blend bloodlines into a single body. Even more evidence of the anti-progress stance of the show, and possibly the Elemental Nations in general, since he was given a kill order by the Third Hokage. That might never happen now though, he's just a regular jounin, pissed off at being so generic.
First of all, he apparently had to remove flesh from his own body so he could fit the bloodline samples inside.
And second, Hiruko only used one or two jutsu from each bloodline, which pretty heavily implies a jack of all trades master of none situation, where he didn't focus on any of the new bloodlines to any real degree, and was basically a novice in them
It seems to be pretty good for making war beasts though, which the wiki states to have been it's original intention up until Hiruko saw Kakashi with a Sharingan implant.
Also, I don't think we know how justified the Hokage was in giving a kill order. Given Hiruko's plan involves "Start a Fourth Great Ninja War and rule the world", it's quite possible he was doing some pretty inhumane experiments. And even if he wasn't, if he was discovered after Orochimaru left, it would be a reasonable mistake to assume he was working for Orochimaru and assign a kill order because of that.