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Any 2-3 of those qualities would have made it a practical weapon, but all of those combined make it an all-purposes gun that, unless you are extremely unlucky with drops or woefully inaccurate, pretty much never runs out of ammo.
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And lastly, simply firing the thing makes a wonderful, distinctive noise. It possesses several very useful synergies with other weapons, most notably with decoys/Heavy Boots/Broccoli which lets it fire three explosive rounds at once. It holds 350 rounds, or 385 if you play as The Pilot. It fires several leaves along with it that also do damage to people hit by it. But allow us to list what else it can do. It is, in essence, a wooden grenade launcher, three times as powerful as your starting gun. The Mahoguny is absurdly practical for a C grade gun.Pick a weapon with a large magazine and Makeshift Cannon to obliterate enemies as you please. That sounds scary enough, but giving it only a single bullet makes it more reasonable, right? Here comes the Duct Tape, a one-use item that lets you combine two guns into one shooting the bullets of the guns combined. Makeshift Cannon is a one-shot only weapon that does an obscene amount of damage and ignores bosses' damage cap.It's proven too good and Muscle Relaxant lost the tripled damage after Supply Drop update, instead offering the 50% damage boost to a wider selection of guns. It, however, possessed a separate synergy with Sniper Rifle and Hexagun, on top of the one already provided a bonus 50% increase in damage for a whopping total of 450% more damage. Muscle Relaxant used to reduce the spread of all weapons by two thirds and triple the damage of rifle-based weapons, making even fairly lackluster guns like Crossbow or Hegemony Rifle formidable weapons.As stated before, the weapon is already respectable, so you will practically need no other weapon for the run.
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The Shelleton Key, which is just as rare, does the same thing as a passive item, and if you somehow manage to come across both items, the AKEY-47 gains a significant damage multiplier and infinite ammo. A single bullet unlocks it without you needing to spend a key on what might potentially be a bad item, letting you hoard keys for Flynt and ensuring you get everything you can. AKEY-47 is a fancier AK-47, a respectable gun, but rather disappointing for an S-quality item.