Throwing was changed a while back so cut throwing weapons do the "pre cut soak nerf" damage, as in throwing cut weapons basically ignores armor, while any other source of cut damage was significantly reduced in effectiveness.
What this means is that Heavy Throwing Axes hit like a 10 PS Masterwork Flamberge on a held overhead swing against a peasant. Its extremely imbalanced and there is a reason throwing weapon usage on NA is something like 70 percent heavy throwing axes. They are OP and very unfun to play against when some dope in peasant armor that can kite even better then an archer can 1 shot you while hiding in cover away from danger.
I don't really mind taking a shit ton of damage from a throwing lance but Heavy Throwing Axes need to be nerfed, they are overused by hybrid and pure throwers alike, bust shields, are great melee weapons, have lots of ammo and seriously do a disgusting amount of damage.
Also, if throwing is buffed at all across the board I'd probably just quit the game for good, it should be an OK sidearm that isn't too common but in the few phases that it was both OP and widely popular the mod was practically unplayable as a melee class. Not "2hander elitism" speaking it was just an awful environment to play in, being perma range stunned by cripplingly high burst damage ranged classes with no reload delay and unlimited ammo wherever you were on the map, is just stupid.
Throwing should always do high damage to horses, but damage vs infantry by the cut weapons needs to be nerfed badly. Buff vs cav to compensate, but its out of hand.