Don't see many people agreeing with this; I certainly don't. The hook is just too much fun and nerfing it this badly would piss a lot of people off, I imagine. It's true that it can get overly chaotic when people are spamming with it all over the map and hooking everything in sight, but there are ways of stopping them in a battle [shotgun works wonders]. And it's not like hooking a speeding tee while keeping an eye on everything else is too easy, heh.
As for races, hooking others and colliding with them will become optional in 0.4, so that should take care of the holding back problem effectively if you should so wish.
Dash moves, on the other hand, are already possible. Sort of. They involve the use of the hook, yes, but that doesn't mean you can't do them on the ground. Quite effectively, too. It's true that the game doesn't make too much complex use of the directional keys, but that's a good thing since your mouse hand requires all the attention it can get [looking around, shooting, hook all at once]. And anyway, the developers said they'd experiment with the walking speed soon. Should be enough change for now.