Not really, rapiers are used for stabbing and thrusting. They technically do have at least one edge, but it’s usually so dull and unfit for slashing, it’s not even worth it.
Rapiers are far more similar to spears, tridents and other thrusting polearm weapons, than actual swords.
A lot of skill actually is viable if you use arcanium weapons if you think about it. Because if you were to use devastate on a one-handed sword, sure iron sword won’t do much but if that sword is channeling a lot of magic then those magic energy will compensate for it.