(Dnd 5e) does two weapon fighting stink?

Seems with so much taking your bonus action two weapon fighting isn't really that good or useful.

Is that a good assumption?

Would a house Rule of two weapon fighting style or feat also allowing a offhand attack for free as part of the attack action be balanced? Limit to one free swing per turn. Maybe if you want a second swing then use your bonus action ? Or just say you can't use your bonus action to attack as well if you used a free action with the attack action

Does any of that make sense or seem balanced?