I think there are still lots of players who use Axe bats. I remember seeing someone the other day to be honest. I think Springer still uses one. I will say though at the youth level - nobody uses it anymore. They were popular about 5-6 years ago, but no kids use them now.
You also need to remember that even if you put more mass in the sweet spot, you can't exceed the max barrel diameter. So instead of the barrel to the end being the max diameter, now it's just the sweet spot that is that big. Torpedoing the end just takes weight out of the end of the bat. People who like an end loaded bat will hate these things, but I suspect they feel "light", with more of a balanced swing profile.