Does reload speed do anything on Hildryn's Balefire Charger?

So Hildryn’s exalted secondary has the ability to equip secondary reload mods.

That said, that’s a bit odd. A few points:

• There is no reload function for the skill — it leeches off your shield pool and has no “magazine”.
• All mod availability on exalted weapons are deliberate — DE wouldn’t leave a mod to be used on an exalted weapon that serves no practical application.
• There is a listed reload time — 1 second, which is reduced to 0.6 with Quickdraw equipped
• It would be unlikely to be affecting fire rate and charge time, because those mods have their own separate stat line affected by fire rate mods

The difference between 0.7 and 1 second is extremely hard to differentiate on its own, and even harder when I have no real idea what “reload” is on the Balefire.

Does it do anything? If so, what is it affecting? The wikia isn’t much help here.