Yes, poorly optimized, but still three levels above Rakata (58->61) and more easily available. Some people might appreciate having Rakata over BH, though, because having Rakata says you have cleared HM EV and KP or SM EC and TfB multiple times, whereas having BH doesn't really say anything. "Maybe he just did a ton of dailies?"
Also, on the matter of the set bonus: just buy a Tionese piece and replace the mods with BH. Problem solved.