Problems with BRD, or any designated-buffer class, from the game designers' perspective:

I have this class whose function within a group is to make the rest of the group better. Since this exists, I'll have to either 1) balance content around the idea that every group has a buffer to make it challenging, 2) balance content around the idea that every group DOESN'T have a buffer, or 3) make the buffer class have weak buffs so as not to impact balance.

None of those options are especially appealing to me.

If you go with option 1, content will be too difficult for a group lacking a buffer, excluding portions of the user-base and creating situations where content is underused due to difficulty. That's bad for everyone, because it means that resources will be diverted away from developing all those big raids. Square-enix is running a business, and that means keeping as many people happy, and paying, as possible. If only 2-5% of the playerbase sees (insert raid boss' name here) die, you can bet you'll see less of bosses like that in the future.

With option 2, we have more accessible content for everyone. Raids would be doable in a group lacking a bard, but would be made much easier, or worse: trivial, by groups that do have a buffer. Time and time again, communities in MMO's have gravitated towards the most efficient means of accomplishing tasks. So while a raid CAN be cleared by a group sans buffer, you can bet the vast majority of those who actually do will still take one with them. So we'll eventually arrive at the outcome of content is too easy for the majority of players that do it.

And the final possibility: downplay the bards' buffing capabilities. We would then find ourselves asking "a bard that doesn't buff well does what, exactly?" Given that archer is the base class for bard, presumably it does DPS. So why be a bard in this case? What makes a bard mechanically different than other classes? Even from the archer's standpoint, why should he choose to be a bard over a class that already does damage? Not to say the current class situation is the shining example class diversity, but I don't think this hypothetical situation would do anything towards fixing that.

If I had to pick my poison, I'd probably lean towards option 3, and hope they can come up with fun gameplay that's unique to the bard without impacting balance in other areas.