We're not all 90 FPS lunatic 1ccers you know :V
And it's arbitrary, since I'm comparing Gengetsu to other Extra Bosses. She may not be outright "easy," but she's "easy compared to the others." And because I think anyone saying that she's one of the hardest is an affront to all of the others, (and because nobody mentioned an attack that stands out as highly difficult), I'm going to look at each attack she does and point out why she doesn't compare.
Mugetsu - I'd say she's the hardest part of the stage. The fast blue bullets are aimed at you, so you can dodge by moving an inch, but there's other crap flying around, so it's not so easy. A bombspam here is ok.
Gengetsu's first phase - The bullets are fast, mainly the pink ones. Again, this is probably on the level of other bosses later attacks, so you can get beat up by it and use bombs.
Second phase - Pure streaming. If she's on the right side, you start under her and stream to the right wall. The bouncing bullets may as well not exist. If she's on the left, just stream to the left. If she's in the middle, either side is safe.
Third phase - The pink bullets automatically miss. Stand still then move a bit to dodge the aimed blue ones. The cloud of pellets is also aimed so just move another inch. (You could probably do this whole phase with your eyes closed if you memorize the timing.)
Fourth phase - The blue wave is static. Stand directly under her upraised hand, and she fires a formation like this:
X X
X X
X
X X
X X
The X's represent bullets of course. The middle is fired straight down (right at you) so just move to the side, then right back to where you were. Then she does the laser thing. Don't stand under her because she fires a big laser. Just stand between two of the vertical lines and sit there. She fires a few aimed shots after the laser so just move up a slight bit.
Fifth phase - God help us it's random. Nothing any other Extra boss doesn't have (Froggy, Grudge Bow, BoLaD, etc.)
Final - The hardest thing she does I guess, (but Mugetsu's still harder IMO). Bombspam if needed.
So whatever. I think everything but the first and last phases are pretty damn non-threatening compared to other Extra spells. Combined with lots of resources to strongarm through the hard stuff, I think she
really falls short compared to all of the other Extra bosses.