I think the Red Mage currently needs some relatively minor changes before the release of patch 7.0, although they probably won't do it or only do it concerning potency adjustments.

Changing Embolden to provide a personal 5% increase in physical/magical damage could be a good idea, and the same change for the 5% Manafication could work well too, the buff would be minor but sufficient.

Moreover, adding 2 stacks to the Acceleration spell and in return increasing the cooldown from 55 seconds to 60 seconds per stack, would give the Red Mage a bit more mobility tools during movement-intensive phases.

The issue is that the Red Mage is excessively difficult to balance because they made the Summoner far too mobile,
as a result, they balanced the casters with the phys ranged DPS, except for the Black Mage which has been in a decent spot since patch 6.4.

However, the Red Mage and the Summoner are the only two job in the''caster category'' with team utility (rez,mitigation,heal, hot,etc,...) so they are balanced closes to each other, even though the Red Mage requires more effort to provide equivalent DPS,
the problem lies in the fact that as long as the Summoner remains like a ranged physical DPS while it's supposed to be a caster, balancing the casters will remain problematic.