If it was a Devil Arm then it certainly would not have been so weak. And the question itself is kinda weird, since we learn all about Red Queen in the game. The Order of The Sword creates those motorcycle-sword things. Nero modified one to be more powerful and useful for him, and that's the Red Queen.
After all if it was a Devil Arm the Order would have used it for their purposes. And if that did not happen, then Nero would keep it inside his arm along with every devil item.