The main point of the class is to progress utterances and make them usable. It does this by using bardic music to make Truespeak DCs reasonable and provide other helpful truename effects.

As it stands, the class loses two truenaming levels already, as it's pretty much required to be a truenamer 3/bard 2 to enter. Conceivably, you could have a truenamer 3/bard 1/arcane caster 1, but I'm hard pressed to see why anyone would want to do something like that. The prerequisites aren't laborious, but they are precise in that they allow pretty much only one build to enter it.

I agree that the class favours truenaming over bardic abilities, but that's really how I planned it. Bardic abilities here supplement the existing truename abilities to make truenaming conceivably playable. I'm not giving bard powers to a truenamer or utterances to a bard, I'm combining utterances and music into a new form. If that makes any sense.