I'm on the side that believes Shadow knight's damage shouldn't be nerfed and my reasoning for that is the following:
1. Bold strike/Steal is pretty much where the majority of their damage comes from, aside from that they do approximately the same amount of damage as a DW
2. Shadow Knights are already easily countered by classes such as Cranes, Karmas, and Swordsmen. In case you aren't aware all 3 of these classes are capable of immobilizing SKs without much trouble if they're skilled, if a Shadow knight can't get their damage in quickly they WILL lose.
3. What'd be the point of even choosing SK if their damage is on par with DW. DW has DP which is a move that regenerates a vast majority of their LP bar instantly and overall they tank better than SKs PvP/PvE.
4. Most of the time Humans aren't willing to buy multiple sets of accessory to counter certain classes instead they complain about their high damage output. Meanwhile you have SKs who need to buy anti fear, para, bleed, confusion etc along with props in order to compete with other classes. You can ride your high horse all day calling SK a noob class after you've become a successful PvP SK.
Couldn't have said it better.