It is overpowered
I figured my comments were almost an answer so I might as well complete an answer.
There are 2 easy ways to determine if something is overpowered. If it's cost/benefit is better than similar features, or if it's existence makes it a no brainer choice. I believe both of these are the case.
Has a bit more versatility as you can also choose to use disengage or hide. However, this is the only thing rogues get at level 2 and requires the investment of 2 levels into rogue. The only benefit for 2 levels of investment is allowing the user to cast levelled spells while dashing as a bonus action
Allows levelled spells on later turns and is therefore a bit better. However, this costs a spell slot, a prepared spell, and requires that you maintain concentration, which means you can't have other concentration spells up. That's a huge increase in cost.
Step of the Wind
Like cunning strike, this has more versatility. You also get more variety from the other Kii maneuvers with the 2 level dip into monk. However, you have to spend Kii. That and the 2 level investment is huge.
Cost of a feat and only really helps those that would want to use this for melee. Gives them a +5 to damage, but they don't get to use more than one attack. If they used magic initiate to get this cantrip, they would get an extra cantrip and a single free cast of a level one spell while charging better than charger (if they have more than one attack).
So cost/benefit definitely suggests this is overpowered.
Who would take it?
Everyone except monks, rogues, and MAYBE druids.
Other than the round you go into rage you rarely need a bonus action. As someone who needs to move around fast to get close magic initiate for this would be a must have. If your DM only has short range fights without terrain it is less valuable.
Has a lot of use for bonus actions, so it is less viable. However, unless your DM only has really long range fights or brainless enemies, your bard will be in close combat. This paired with an offensive cantrip or ranged weapon is better than any armor for keeping the bard alive. Must have.
DM ever surprise you with an ambush? Would repositioning 90ft in one turn allow your cleric to be in a better position for the entire fight? If the answer to either of these is no, then your DM needs to step up their game. If the answer is yes, then you need this.
The first hiccup to the obvious yes pile. Wildshape prevents spell casting until later levels. Once there, however, this is amazing. If you aren't wildshaping much, this is the best thing for kiting and moving to where you are needed most. While most other classes would rank this a 8-10/10, it's about a 6-7/10 on the druid.
See barbarian, but, with more asi and a subclass that gets spells, it is even easier to acquire. Must have.
Pass, you get it lvl 2. It costs Kii, which will make you feel useless compared to everyone else that gets it for free, but you can't justify the feat unless you want other spells. Also, you use a lot of bonus actions.
Once again, see barbarian. Melee needs to be in melee. Must have.
Kite. Kite kite kite. Unless your DM tailors the fights to keep you out of harm's way, this is one of the best things ever. It only slightly decreases in value because rangers and rogues multiclass well, so dipping into rogue is actually really not much of a cost. If straight ranger, though, definitely gonna grab it.
Nope, get it for free. Well... For your entire level 2. Will suck for it to be something everyone has and no longer be a cool class feature, just a waste of level 2.
You have a d6 for hit dice. If you think melee isn't going to hit you like a ton of bricks then you are going to be disappointed, or you are just used to a DM that fakes rolls to keep squishy folk alive, or makes sure all the combats are obviously coming up and a couple hundred feet away. Otherwise, this is a starting cantrip on every sorcerer with a brain.
Slightly tankier than the sorcerer, but with Eldritch blast, the cost of only being able to cast with another cantrip is now negligible. Same idea, though. Must have.
See sorcerer. Must have.
Basically, with this existing, everyone that can take it will, and when comparing choices with this and without it, the choice with it is the obvious one. So, from the stance of "if it's powerful enough that it is an obvious choice when available, it's overpowered" this is very much overpowered.