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Shield nerfs are needed to balance Stamina and Magicka classes better
They said they are buffing light and medium armor, so I think they are planning to make up for the shield nerf, but shields are just cheap even if they are counter able, just keep spamming uncritable shields until someone stuns you.
Also this is great for PvE which is my main concern since I dont care much for PvP, they should balance the defenses of stamina and magicka to avoid those magicka only trials. Currently shields make Magicka classes way easier and safer than stamina classes while doing more damage because of their range, I really hope they are going to balance this out.