SCH definitely has more tricks up their sleeves, SE should make Adloquium to give us 2-3TP regain (max 3 with AF3+2). They need to make stormspells boost weaponskill damage to additional 10-20% with full merits. They could also make phalanx benefits from light arts and aurorastorm to reduce damage further. All these will augment Embrava + Perfect Defense and compatible with other jobs that give party defensive or beneficial buffs.
This way they can justify the adjustment by letting us know, yeah we are taking away some, but we are giving you back a lot more and make the other spells more attractive to use instead of one that does it all which means a good SCH will be a busy one.