Gambit's appearance was good overall until the Rogue stuff which had been his downfall in this story but in the long run was not good for characterization. IMO
Gambit knows she is an Avenger, she is not with this team who are not Avengers, why he would fall for Mystique's trick is also disappointing and showcases how the books don't pay attention to each other and nor do they care as long as whatever is needed happens in the story.
I thought the same, but after seeing it, I think it's a good enough reason to draw his attention. However, rambling on and on like that just to be sucker punched? Mystique isnt a push over but she isnt freaking Iron Fist. I would have thought a guy that can keep pace with Daredevil, Blade, and Deadpool would be able to parry a non-super punch. I believe Bunn likes Gambit and would write him well in a team setting, but that was a bit off to me, otherwise I think the characterization was fine. Him being distracted by Rogue's sudden appearance alongside of someone she's had a history with is plausible.
It does make sense, him being KOed by Mystique? Not so much...
From the writers prospective, he needed Gambit out of the way, along with the rest of the X-Men, and he could have gone another way and had Fantomex lay him out. Instead he wrote him being tricked. I can live with that, though I think he kind of put Mystique on a pedestal here with the one and done shot.