It's just a two handed sword that is anti- evil, so neutrals can use it as well.
When it is equipped by a non-goodie they will not get the echo of light, and they won't get the sweet progs from it.
But I believe even for a neutral it is still no disarm. (I'm also not sure if it's attack type changes from divine power to physical, but it might, I seem to recall this as a thing)
But yeah, a cloud giant sword spec would love it.