I think people twist it to make their point. It's entirely over or understated. However, in the case of RDM the damage to TP feed ratio is unacceptable on just about anything with a moderately annoying TP move.
How?

I'd like you to actually think this out for a moment.

If you're arguing that RDM isn't doing enough damage for the TP he feeds, there is only 2 factors your argument covers. Weapon Skill damage, and base weapon DPS.

The two jobs we compare directly to, Paladin and Blue Mage, SHARE the same sword library we do as far as Magian Trials goes, blade for blade. So figure that entire set up we're even with them as far as weapon selection goes. (And we've got some superior ones on occasion with Chimeric Fleurette beating out the current Magian STR sword by a hair depending on target.)

So what makes it so much lower than PLD and BLU? STR? Admittedly, RDM lacks in available STR+, except now we've gotten a function of that available with Gain STR. And we do have a WIDE variety of available Attack+ gear to help with our attack deficiency. If we were to focus it exclusively, RDM is more than capable of bridging the attack gap between these two jobs, especially considering en-spells supplement that. (Though PLD has kept distance now with Enlight in that regard.)

If anything it sounds like your arguing for Attack over Accuracy in gear selection. Which would be an intelligent choice if you're worried about your TP feed like RDM should be. That way, any 'lack' there in RDM Damage isn't contributing to 'TP feed' as you care to worry so much over.

If that adjustment isn't enough for you as far as DPS goes, then your opinion stretches to PLD and BLU's melee as well, which isn't just a problem with RDM now is it? (And before you argue that BLU has it's melee Spells and PLD melee's for hate. BLU doesn't need to melee for it's physical spells, and in that regard, RDM has its nukes.)

Now if you're arguing Weapon Skills, I agree. ALL sword weaponskills need to be adjusted to not be so terrible in general. BLU can bypass this with Chain Affinity, but that tends to leave PLD and RDM both in the dust, and Magical WSes in general are rather lacking. However, SE has stated they intend to adjust WSes, so at this point I'd say that argument is on hold until we see what happens.

I'm not expecting RDM to suddenly be on par with an equally geared BLU in total damage output at all, mind you, but I don't believe the problem is as pronounced as you're claiming it to be. This is more of an issue of debate among choices in RDM's gearing and the over-arching problem with Sword WSes (And RDM not having access to EX ones.) Then it is solely a "RDM" problem.