It's a reverse, this seems far more useful to me than weak with no rebid, and I am one of those people who almost always opens 1♣ with a 4-5 minimum. You can use it to show two different hands (by the way I just realized the actual auction is doubling hearts, but the below applies to 1♣ - (1♠) - x auctions): 1) 4♦, 5♣, minimum. But it is not clear that with this hand bidding 2♦ is best anyway, I can rebid 1N, 2♣, or 2♥ most of the time without feeling terrible about distorting my hand. I agree that I definitely want to bid 2♦ on a hand like xx Kx KQJx Axxxx, but that's the kind of hand I'm giving up in order to show... 2) a real reverse, which I have no other way of showing. 3♦ is not only a misdescription on most reverse hands, but it is also less effective, since it takes us all the way to the 3-level. Overloading the 2M cuebid with yet another hand seems like a terrible idea to me, and various levels of NT are also a completely unsatisfactory fix.