In its current incarnation Ore Gaze is pretty much useless. Because of the way Petrify works, it doesn't play well with other looting abilities like Pilfering Swarm and Pilfering Strangledome, which require enemies to walk into them to take effect (a petrified enemy can't move.) It also for the same reasons doesn't mesh well with the most popular farming strategies, which favor staying in one place and letting the enemies come to the warframes rather than the other way around.
So, we have an ability which is mainly only good for solo farming. However, its base loot rate is only 25%. Atlas needs a huge power strength investment to get his loot rate to ~60% to be competitive with Nekors and Khora (who don't have to invest anything to have that rate) but, given the clunkiness of this ability its lack of team-friendliness, it feels like its rate should be much higher.
Petrify is also very clunky. Because its cone is narrow and starts at Atlas' position rather than at the player's POV, the sweet spot for petrifying enemies is really only a small cross-section of its total arc, starting near the edge of its range (14m at base.) This makes you need to add a substantial amount of power range to hope to tag more than a couple of enemies per cast. The change from a channel to a single-cast ability also hurt petrify because you have to spam it now to catch all the enemies with it instead of just steadily sweeping it across the room. Ore Gaze was also nerfed from a 50% base rate to a 25% base rate at this time, supposedly because the new Petrify should be easy to use, but the rework ultimately had the opposite effect. The spamminess makes it more frustrating to tag all the enemies with it and makes it less time-efficient because you spend all your time petrifying. It's actually quite similar to Nekros' old desecrate where he had an obligation to press 3 all day instead of playing, but much worse. The old Desecrate at least had a huge radius and 360 degrees of coverage; Ore Gaze is way, way worse in every way.
It also feels really bad to mod for this augment. You have to pump power strength, but this tanks efficiency and leaves little room for range-boosting mods. You also need a duration mod because otherwise the enemies unpetrify before you can kill them. This leaves almost no room for range mods, and you end up with a very expensive Petrify (that you're supposed to spam!) with short range and very finicky targeting. AND it's worse than all the other loot abilities in both solo and team play. At best you can mod an Ore Gaze that has a similar rate to Nekros and Khora, but is worse in every way.
I came back to the game after a few years' break and was impressed at all the QoL changes that made it in while I was gone. However, Ore Gaze stands in stark contrast to all of the good stuff that pleasantly surprised me. Give it some love!