Is the knife really that bad?

I hear lots of people say the other melee weps are OP'd.. this true? I do decent with the knife but tend to get beat out by other melee weps with long range. I dont play alot of knife only matches though. The axe has the right click one shot to the body and left click to the head is insta death., and the shovel has the lag kill and right click anywhere on the body kill. Im not sure about the katana I have only faced a few people with them. But if I can make them miss with there right click its game over for them. Long range though. VS all this the knife doesnt seem that great.. but is it really that bad? its faster then the other weps isnt it?
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