Quite the contrary. The more weapons you level up to a certain level the more points you get (and the bigger endbonus you get).
I just bought this a couple days ago and I'm beyond pleased. Fucking love G.Rev. I didn't like the sword at first, either, but I'm going to try for a sword-only clear while I wait for the Vower DLC to come out (and then I'll sword-clear it there, too!).