The more I think about it, the more I realize that Picto is exactly where Square wants it to be. It will not be nerfed just because over performs in FRU. Let's get that out of the way right now. Square's general balance point has always been a mix of casual and savage content. Never ultimates, as evidenced by general lack of changes for ultimate content underperformers over the years.
Now, Picto looks like it does a ton more damage than everything else in other content. It does not. It's rDPS contribution is always within a few percent of non-res/phys range jobs when you look at percentile tiers that don't enter into "I had good RNG and a good kill time" tier. Because kill time is, by far, the biggest boon to your parse, and you better believe that almost all top picto runs have good kill times.
Yes, this also is reflected in cDPS as well.
But every single fight has a few common aspects with Picto:
It has a delta in performance on par with Black Mage, and looking through the various percentile tiers shows it falls way, way off the worse you are at the game (aka causal players).
It usually sits in top 3 in higher skilled tiers.
It's a few percentage points off from whichever non-res/non-phys range job is at the bottom.
Going off all available data for non-ulti content, Picto is performing exactly as Square has said: stronger than expected, but competes with the melees.
The only nerf we may expect to see comes with a precedent: Altering Picto's burst to be less RNG-heavy by making it guatentee DHC for less overall potency, which is the exact thing they did with SAM when it's burst was insane if you got all DHC on everything that mattered. This solves the perception issue for people who don't know how to use fflogs, makes their burst profile more consistent, and hits their dps slightly.
Other than that? Do not expect picto nerfs, no matter how doom-tastic your attitude at this video game is.