tl;dr
gear, race and cp matters less. (khajits hit the jackpot with a relative buff compared to other races).
Individual skill, group buffs (including group sets), correct mundus and traits matter more than ever.
For the simplicity of the matter I will explain only for magicka characters, and take sorc as my example (all hail the one and only master class):
Lets start with gear. damage gear usually have 3 stats we are looking for. max mag, spell damage and crit.
Crit gear gets nerfed - from 3.8% to 3%, which is a 21% nerf.
Spell damage gets hit by diminishing returns - since we have 1540 more spell damage from live (cp+base is 1100, being a sorc I get 40% more from sorceries and my own passives) which means our all over spall + mag/10.5 moves from 8200~ effective spell dmg total to 10,300~ effective spell damage total. which means buffs of spell damage, that would have added 10% damage (820 spell damage after buffs) would only give us 8% damage in the new cp. giving us a relative nerf of effectiveness of 20% on spell damage bonuses.
Max mag gets hit by the same diminishing returns as spell damage, but also from another 16% nerf from no more 20% boost from cp. total of 33% nerf (after calculations)!!!
Conclusion: Crit gear bonuses are still BiS. all gear matters less by at least 20%. Unless you are Mechanical Acuity. mark my word new meta is mechanical acuity.
CP:
Nothing much to cover here, smaller % over all, no more bonus on off balance enemies, being forced to flank for 15% crit damage (yey?) ye.... CP matters less. Which is good imho.
Group buffs:
New major heroism set introduced. new 5% flame dmg set introduced. Since we have more sustain we will see movement from sustain support sets to more damage support sets (yey).
General damage nerfs:
By my tests, after optimizing mundus, sets, cp, skills, etc etc, I am losing around 4.5% of damage (7% in fights I cant flank). This is offset in dungeons by a much better sustain(we might be able to run Siroria everywhere. and in trials, we will have more support sets (also movement from regen oriented sets to dmg buff ones). So generally I think power level of players stays the same.
Conclusion:
So who gets nerfed? Who gets buffed?
Non optimized groups that rely on high CP and gold gear, getting nerfed.
Low CP characters with mediocre gear, getting buffed.
Optimized groups are staying more or less on the same spot.
I think that the new update brings a nice balance dps-wise of lifting floor a bit and keeping ceiling more or less the same. good luck in vSS hm portal though where we don't have group buffs xd.
trait-wise:
divines still going strong.
Infused getting hit by a roundabout nerf of 33% (same as max mag/stam in gear)
everything else has nothing to do with dps.
mundus stone wise:
shadow and thief going strong.
max resources stones 33% nerf.
spell dmg/weapon dmg 20% nerf.
everything else has nothing to do with dps.
I will miss my crit though. (7%-ish?)
Edited by zvavi on February 16, 2021 5:58PM