They still have a 10s duration; you can see the actual changes on the balancing page. The actual speed boost is lowered, and it can be dispelled, but it's still superior to a badge. It being harder to get is intentional though, as having players use badges instead is generally preferred.
I'm not sure which class you're playing, but using this example, the weapon would need to at least triple your DPS to have made any difference here. MVP goes to whoever deals the most damage so, outside of a few specific circumstances, you need to deal at least 50% of the damage to get the drops. Unfortunately tripling DPS is far beyond what bloody weapons were designed to do; most of them don't actually increase DPS very much (they're only 2-slotted), leaning more towards adding utility/survivability like resistance to Boss monsters, knockback immunity, etc.
Of course as I mentioned I'm not necessarily against changes that would make another class or two viable as MVP killers, the issue is just that it's far beyond the scope of bloody weapons.
i dont really wanna compete with them,, i just want to know that i can secure the MVP before some sniper or linker come and deal some ridiculous amount of dmg and kill stealing it,... (happened to me before, i was like 3-5mins ahead of a specific MVP and i only manage to drop it to like 80+% hp and a sniper came and just dealt 400k+ dmg in a single skill and insta killed it in seconds)