So at first I thought "great idea!" But then I realized the spirit scaling is quite low, so this is really an "alternate weapon" tool, when. I thought it was a "spirit based gun" tool. My suggestion would be to change the base damage to 20, and increase spirit scaling to 0.5
While that is an option, there are already 3 other T2 weapon options that are very strong items for spirit builds (Mystic shot, Soulshredder bullets, and Slowing Bullets). I wanted to avoid that here since it feels like T2 and T3 weapon items are already fairly congested with "hybrid" spirit/Bullet items. The Spirit scaling is there so that it at least gets
some scaling. 76 DPS is actually only mostly average or even below average considering that there are a lot of heroes who get something like 2-4 base weapon DPS per boon.
Average Weapon DPS is around the mid 60s initially, so by the time you get to around 4 or 5 boons (So around 7.5k total soul count), almost all heroes base gun will outscale the base DPS of the Slug Launcher. The minimal Spirit scaling is there to keep it from getting totally outclassed as the game progress since basically every good build wants a modest amount of Spirit. 7% means you'll get about +1 damage every 14 spirit, or a base +1 DPS every 7 spirit (more or less). It does still deal weapon damage, has an ammo capacity, and a fire rate. All that means that it can scale with your weapon items and will trigger other things that will trigger off your gun effects (Such as toxic bullets, Tesla Rounds, Slowing Bullets etc.). This could be fantastic for characters like Holliday, Infernus, or Mirage who want to apply things on their bullets.
I will keep in mind the idea of adding additional spirit scaling for base damage, though.
I also considered that you reloading your standard gun should continue while you are firing the Slug Launcher, which makes something of an ammo extension alternative to Melee Charge, or Active Reload in the Weapon category.