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Barbed Trap Nerf. Yes. But in combo with the hemorraging. No.
Barbed Trap has been one of the strongest dps skills in the game for a while. So I agree with the changes that remove the passive Hemorraging proccing over time and requiring you to search for other strong bleeding skills. However since ZOS also decided to change Hemorraging in the week #1 this 1st tick of Hemorraging does not hit as strong and requires constant proccing. So with either of the changes active, I guess it would've been fine but right now we are having a situation where both changes together make this skill ridiculolous to use.
Even with as ZOS said "having to look for other sources of bleed" such as Carve, Fetcherflies and Beast Trap the overall dps is lower than before and can barely justify using it over elemental status effects anymore.
So you either need to reduce the nerf in Beast Trap (lets say having a 10% status proc chance as a compromise instead of 30% (live server) and 3% (week 2 PTS), so change something with the major hemorraging mechanic again.