You mean overpriced, right?
Anyway, the rules for thresholds are super vague. It seems that a given power could either be suppressed or unaffected depending on the character who has it. A bear with Inhuman Strength would be fine, but a WCV would lose their powers.
As for the comparison to Channeling:
Rolling to control is definitely a downside. A bad roll for TK is just a low chance to hit. A bad roll for Channeling is that and some kind of pain/collateral damage. Duration is mixed, since aspects created with TK are not limited in duration but blocks created with Channeling can be extended. Also, TK is much better for utility work. You can't carry around a sofa with Channeling. Even with enough control to not just be throwing it repeatedly, you'd run out of stress pretty soon.
As for the comparison to Breath Weapon:
Even without Blades, TK is probably better. It has the following advantages:
-Aimed with a noncombat skill.
-May be used to block and grapple.
-Also gives complete substitution of a skill.
Breath Weapon has only the following advantage:
-In situations where there is nothing rated weapon 2 or greater within a zone, it has a better weapon rating. These situations are extremely rare, though.
I really think that people overlook the noncombat aspects of this power. With a single -1 upgrade, it totally eliminates the need for three whole skills! Fists, Weapons, and Might simply don't matter anymore.
Though I am considering adding the first range upgrade to the base power. One zone feels kinda short ranged. Would that make people look upon this more favourably?
Man, I'm rambling like an old man. I hope that post made sense.
PS: Please do not use reflexive blocks as a balance point. They're an optional rule of questionable balance. Although they do have the effect of making wizards burn out even faster.