Apart from the Lasher I don't really think the old heavy weapons have much of a role in PS2 since we already have sooo many weapons that more or less do the same thing. At least the Lasher is unique in its function.
As such I don't really know what should/could be done about the MCG since it's already doing what it's supposed to in an effective enough manner. I think the problem here is that it's just drowning in a sea of LMGs and other weapons choices for the HA.
SOE is going to have be more creative when it comes to making both the Jackhammer and MCG more unique, imo.
All that said I would still like to see it become an underslug again