it is coupled with the ability to treat any roll of 9 or lower on Insight and Intimidation checks as a 10, which is considerably powerful in terms of its statistical effect.
That's a non-combat effect. It helps you succeed at a handful of dialogue checks, some of which are just for flavor and make no difference in the outcome of the conversation. Usually it helps you avoid combat, which is kind of a letdown too because you don't get to kill them and take their stuff.
The bard usually isn't the one who makes the insight checks anyway, if there is someone with high wisdom in the party.
Their only ability that matters is at level 6, "Verbal Onslaught, allowing them to use their Bardic Inspiration as a reaction to deal psychic damage and potentially stun anyone who damages them." Even if the damage and stun DC turn out to be really great, that's no reason for the other two abilities to be so lame. That's not good game design.