It is... and that's on content at the moment where we don't currently require our utility often. I use song during DPS phases of 1 fight in the entire game at the moment and that's Turn 4. I put out TP during 2nd AoE wave and RARELY use MP song after the 2nd Dred is killed if the WHM needs it. We run zero Magic DD so there's no need for requiem. Rain of Death it's pretty trivial on most fights with how much damage mitigation Paladin has it's mainly better to conserve the 200 TP and just keep DPSing consistently. So long story short on majority of numbers being run we aren't even nerfing out DPS out-put and we are still in the bottom 2 classes as far as competent coil players go.
The problem here is perception, the majority of the player base has a warped view of how classes preform at their max potential. (Mr.Happy was in the stream translation chat tonight though and agreed; So hopefully he can sway some sheeple into reconsidering.) Which leads me to believe SE isn't testing a damn thing, but just going by word of mouth and first glance. During the interview they were talking about their perception of the classes when they were doing Ifrit on their characters.