It's not true. Many Limit Bursts have additional bonus effects that greatly scales the favor of the battle towards the user (buffs). He lacks this, but kind of makes up for it with his second master ability.
limit breaks are key to high end play though. if you want to go far in raids a good limit break would definite make him better. the 2nd master ability doesnt make up for a lack of limit break cause gilgamesh is 2X cost AND HAS a limitbreak and it slows which if you stack with steal time youll be chaining for days, especially with the slash resist down.