The funniest thing about this change is simple. Funcom jumped the gun because of whiners on the boards about PvP initially and this is like a fix...
think about it... damage in PvP was cut to 50% to help balance PvP... funny how 50% is roughly the same percentage as the high end bracers... the net effect is that they pretty much gave everyone 50% bracers by nerfing PvP damage 50% and then later nerfing the bracers to near nothing.
The problem is simple.. if damage were closer to full (with a max 40% cap) in PvP then neither change would be needed while the goal of having no alphas would still be pretty much reached.
Instead PvM pays the price of the initial mistake... how about just raising the damage back to full (except for the 40% cap) and letting bracers still mean something in both PvP and PvM...
then the bracers aren't overpowered and those that earned them are rewarded for their efforts.