To be honest i've always run around with only one stack of bodkin arrows since the slots patch, having less damage hardly effects me in the scheme of things and I, as a long term player, neither care nor really have any desire to heirloom anymore but on the point of having bodkins reduced in power, I refrain from saying "nerf" because I believe it will be good, I completely agree, there were far too many other "classes" of archers starting to run around with bodkin arrows and doing more damage than really necessary for the style that they should have been.
Basically what I mean is that I prefered the old system of only having the longbow as pierce since it made it have a real "distinguishing feature" over the other ones but now that bodkins aren't so fantastic, the slightly increased damage of the longbow over the warbow will mean that once again it gives more benefits for using it, even though only slightly.
This change has meant more people will turn back to cutting arrows in order to do more damage to the masses allowing the longbow to more or less have it's niche back.