I am convinced that a proper axe build is the way to go. All the power of killing bosses in seconds with no sudden deaths due to no armor or toughness. Currently clearing NG+ quickly with no issues, while earning the "kill this boss without getting hit" titles. I use the "overload" build with the Kaido set, Atlas Bear, Mononobe Axe, and an "out of ki" mystic art. Just buff up and debuff with magic then do 2 combos (I don't have a +5 weapon yet to one shot) and the fight is over.
It isn't good for farming millions of Amrita or whatever since you move slow, but I don't really see a point in leveling past 150 when things are easy enough as is.
Plus, everyone uses the damn crimson set along with a katana or spear. You can be a "cool" kid with an axe.