TL:DR - Bind starts out reasonably strong, but becomes an inefficient power to use compared to the more efficient powers like harm/unleash, and it would be nice to see it more effectively be an action denial option or a reasonable/effective alternative to simply defeating opponents with overwhelming force.
I think that's your core problem, is namely you're trying to shoehorn Bind into being primarily a Force power that deals damage when in your own post you said that inflicting damage is a secondary aspect of the power. Bind is primarily about controlling the effectiveness of an enemy in combat, either by adding penalties (setback dice) or restricting what they can do (immobilized/staggered). In MMO terms, it's crowd control with a potential DPS option, as opposed to a pure DPS effect like Unleash that can optionally include a small bit of crowd control.
The strain damage occurs when the target takes an Action, but the wound damage occurs regardless of what the target does, and said wound damage bypasses the target's soak value. Bind is also cheaper in terms of XP cost than Heal/Harm to purchase both the basic power and most of the upgrades, and the needing Force Rating 2+ isn't that huge a detriment since the vast majority of PCs are going to want to increase their Force Rating anyway, simply for the chance to generate more Force Points no matter what powers they have.