I think there has to be some improvement in performance using the torpedo bat. It's a matter of physics. The lighter the bat is at end makes it faster. That's why the modern bats are allowed to be cupped at the end... to remove mass. That's why "corked" bats are illegal. The torpedo bat leaves the maximum bat diameter in the batters sweet spot and lightens the bat for increased speed. Only time will tell if it's a game changing bat.
Most baseball fans are thrilled watching a high scoring game. A low scoring game is slow paced, dull, and unexciting. The torpedo bat might well increase the offense advantage. Not only in more home runs but infield hits and scrambling defensive plays. It could make the game more entertaining to the masses. I don't see baseball banning the torpedo bat.
With all of the modern tech being used in baseball nowadays, I'm sure there will be stats that show the torpedo bat is making an impact in the game. Bat speed equates to exit speed. That will be the tell of the tape.
How hard or fast is a hit ball crossing the base line, or the outfield fence, will speak volumes.