In these boots, your relationship with consistent spacetime is…tenuous at best.
Making your Warlock turn into a glowstick from the knees down is always a good look and the fact that the Transversive Steps pretty much render reloading (at least in part) a thing of the past, makes these glow boots even better.
The Exotic perk of Transversive Steps is known as Strange Protractor which automatically reloads Energy Weapons and boosts movement speed while sprinting. This perk has been altered from the first appearance of Transversive Steps in Destiny 1 and I have to say it is not really for the better. When Transversive Steps first dropped it automatically reloaded any weapon after the corresponding ammo was picked up, making reloading a thing of the past, as well as boosting movement speed while crouched. But it is time to move on and since the reload affects one of the more commonly used types of weapons in Destiny 2, it is still a great perk.
The Transversive Steps is pretty much pointless if you do not use your Energy Weapon relentlessly due to the main body of the perk affecting that slot. But the simple fact of it is, you are able to unload a full clip of Energy Weapon ammo, run to another location and continue firing without being hampered by a pesky reload.
I do have to say though Strange Protractor seems to cause more trouble than it is worth because if you are not running immediately after you fire, there is really no point waiting for the free reload. The reload does not work if you are in free fall or floating around, it only works while sprinting and even when you are running it grants back a small bit of the magazine every three to four seconds. There really is not a huge game-changing element to the Transversive Steps especially in PVE where you generally enter an area and attack everything nearby without doing laps.
I can see a slight functionality of the Transversive Steps in Crucible after you eliminate an opponent and rush off to the next area, the reload could come in handy but it is very niche. There are better Exotic that can be used in place of the Transversive Steps. To be perfectly honest they need to bring back the original Transversive Steps for this Exotic to relive its glory days again.
The Transversive Steps can be acquired through an Exotic Engram decryption or through Xur if he happens to have it in his inventory.