Actually, I disagree, I think Gunslinger is pretty good at zoning, but needs more tools to even it out a bit more.
The coin shot has a lot of start up, but it's very unique for a projectile for several reasons. For one it's trajectory can actually be changed after you fire it, up until it hits the coin, so it makes avoiding it a lot more difficult since I can alter it according to where my opponent is. 2, due to how it travels, it can actually be made less negative on block based on where it hits the opponent. It's almost 0 block if you hit your opponent below the knee, so it's like a projectile dive kick. SoS 4 is slow, but there are a lot of ways to set it up, and on hit, it has a huge advantage. In my testing, if SoS 4 hits, Erron is given a free low grenade toss which the opponent must block, or delay their wake up. Erron is safe by the time they can wake up from about over 3/4's screen or so, so you can use that to either go into more zoning, or for fullscreen oki. Erron's normal gun shots also have their own uses, with 32 being a good mid projectile with a good hit box good knock back on block, and F132 actually being able to duck under and punish many projectiles, on top of having huge knock back on hit and block.