The revolver has potential to be an incredible annoyance and is definitely getting nerfed but it does not completely win comp games.
You can still outgun them with rifles as they are largely dependent on luck and can't be used for holding corners reliably but getting tagged for 90 across the map for nearly half the price of a scout is still ridiculous.
The game would have done perfectly fine without this addition but valve is just seeking for more shekels by intentionally making the gun op to sell more skins for it i guess :^)