Well, they kinda nerfed gear damage way back when people were bitching and whining about the repair costs that coil was generating.
Then they reduced the cost of repairing at an NPC
Then they added gil drops to dungeons
Then they allowed us to repair beyond 100% if we do it by hand

This is the first time the pendulum has swung back the other way with repairs though, so it might be a fair thing.

The rate of degradation does sound a bit rich though, might be something they'll adjust in the maintenance today.