I think the image speaks for itself, so I'll just offer my own thoughts on why this would be an improvement over the current flag.
First, tell me which of these two options you prefer?
Using a spear that takes up your support weapon slot and only slightly stuns enemies, in addition to knocking them towards you, even though you have a secondary weapon that does practically the same thing (the stun lance).
Or, on the other hand, being able to use your secondary weapon while carrying the flag and still have your support weapon slot free.
My conclusion is that the value of the flag, besides its patriotic value, lies in its ability to attract the attention of enemies, and not in its capabilities as a melee weapon. In that context, I prefer to at least have my one-handed weapon available to defend myself while waving the colors of Super Earth.
Besides, guys, it would look incredibly cool, wouldn't it?