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Officially, it may be a volley gun but, unofficially, it has to be a pain in the ass to both load AND clean. ;)

But, since it is a blackpowder gun, technically, I don't think you would even have to transfer it through an FFL, much less register it under NFA.

(However, NFA restrictions are over and above the definitions of C&R. You could, technically, have something that is old enough to fall under C&R, but if it were full-auto, it would still be illegal unless it has been properly registered and transferred via Class 3 dealer.)
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