I am behind this nerf 100%. The 19.6% buff on the Edge allowed OM and WF players to completely shred players and sentries once their shields were down. I know this because I was doing it. A lot.
16% is still plenty strong, and still worth the 1800 shards, in my opinion. And the buff to skill damage makes stuff like Bola’s Target Finder even sexier for Orendi and such. Gear selection should be about player preference, not a one-note solution that is clearly superior.
This is also a good time to mention that, in all likelihood, Legendary Gear will not be available in the Ranked queue, if and when it arrives. Hey. Man. Don’t get too attached to things. 
Besides, it’s not like they can’t undo the change, or nudge it back up a little. I’m very excited to see them tweaking gear a little bit instead of outright disabling it. Pushing and pulling the numbers shows they care. Trust me–you want that, even if it doesn’t always make you happy. It’s way better then devs that don’t give a crap.