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The Fey Gauge also doesnt charge if the faerie isn't out.
This is a fallacy. You may not be gaining Fairy Gauge, but you're not losing it either. If two Scholars both used Aetherflow on cooldown, but one used Dissipation during a fight more than once, at the end of the fight they will have still had access to the exact same amount of Fairy Gauge resources.


Additionally, and especially at level 80, the faerie is meant to play a greater role in your healing output
This isn't an accurate statement either. Yes, the Fairy is in charge of a lot of the SCH's healing output, but all but one of the Fairy's abilities are on lengthy cooldowns that aren't going to be effected by a Dissipation window. This one ability is Embrace, which is looking weaker than ever. Having Embrace missing for 30 seconds is not that big a deal, particularly because the only time you will Dissipate is when you are about to throw out a lot of shields during massive raidwide damage - AKA the only time you can't be certain that the fairy isn't going to be healing her intended target, which is the main tank. Before, you could tell her to ignore others and keep healing the main tank, but they've removed that. So, as always, Healing the main tank efficiently is done through effective cooldown management, and not Dissipating when the only damage going out is auto attacks on the main tank is a part of effective cooldown management.

Each new healing skill past 70 is a faerie skill.
Yes, skills that are long cooldown that you can use before Dissipating (as mentioned). Also Recitation is a healing skill.

Now, onto it's main horror point, pointed out by a YouTube video I watched. WHM's Temperance and AST's Neutral Sect, both offer a 20% healing increase too; so what skills do they lose... nothing, they just get the healing buff, and in addition a buff specific to them; WHM damage reduction and AST the use of both sects. But SCH loses half its kit, seems fair.
WHM and AST did actually lose something. All healers lost Largesse, and WHM/AST were both given it back with pros and cons.
The pros are that AST gets access to both sects, and WHM gets 10% damage reduction for the party.
The cons are that Largesse was on a 90s cooldown, while its replacements are on a 120s cooldown.
Whataboutisms beside, it doesn't change the fact that this is now SCH's only way to increase the potency of their own shields. I can recall many scenarios during my raiding times where that 20% bonus shielding comes in very handy, where a few Embraces would not.


Again, I don't want to seem like I'm being nit picky or anything like that; but I don't want people to start thinking that Dissipation is useless. Dissipation is a powerful cooldown that can be used very effectively.