This topic comes up every once in a while. The defense is definitely weak for Black but according to database results and from what I've read, Black can draw with correct play. For example, by the end of one main line show below, the draw rate is already 71% after 11 moves.
I really think this opening for black is HORRIBLE! White can respond Qe2!! Black has to respond to d5 or else the knight is lost or if it retreats Nec6+!! making a discovered check and winning the queen! After d3 the knight is in high pressure! The best anwser is Qe7. Many people retreat the knight and ends up with a queen down! I hate this openning so much. Have you been a witness or used it against someone?