Nice catch! RAW, yes, and while that's an unintended boost, I don't think it's so big it needs a nerf. I think you're getting ~15 damage out of it if you place it on yourself that way, but might get ~20 if you put it on a GWM wielder sharpshooter. The +2 AC is needed as a Monk and the extra movement is probably extraneous in most environments.