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No one can judge anything yet while an actual testing is impossible. Just from looking at new co stars and patch notes there should be no hits whatsoever.
You also got a lower cast time, which theoretically makes up for the damage loss in a rotation, plus you'll be able to weave light attacks more frequently. Without testing this sounds like a buff to me, if you weave properly.
After so many people crying day and night about snipe, ZOS decided to obliterate the skill.
Imho, they should remove bow from game completely since it will be pointless to play as a bow-DD anymore. They nerfed it's LA and now Snipe, the ONLY skill that could do dmg of a weapon already very weak.
Snipe is more in line with other spammables now for sure, but unlike what some people think building hawk eye stacks is more important than long shot bonuses, so sticking where you need to be for content is normal as you would with any magicka dps and the new ability altering bow is directly designed to help compensate for this. The faster cast time means you're working on a 1s interval which means refreshing other abilities is more consistent as the 1.1s cast time made it so some abilities had to either be recast slightly early or be allowed to fall off as you had to choose with snipe delaying things. I still run my dual bow sorc on live fine and on pts they seemed to be doing just as well, and snipe still hasn't regained its old 3s cast time so all in all it's fine. Snipe is still the best bow spammable with hawk eye stacks involved but if you somehow aren't keeping that buff up other ones such as crushing weapon are closer power wise.