I don't think there was a "bad" overreaction so to say. People were rightfully upset because they took an amazing technical tool on a variation that everyone agreed was ok, and nerfed it's utility, damage, and added DoT, while still not fixing things like Comm issues, knives whiffing, etc. Meanwhile other characters got uber buffed. The outcry was fully justified imo.
With that being said, I think the only true overreaction was the bottom 5 talk, but with the salt at an all time high I can understand the frustration as I felt the same.
I'm finding some really good stuff, and think the character is still manageable, but I'll rarely be using EX Buff in block strings. The only string that it would be perfect for high +frames is F4~, so you can be close enough to hit B1 without moving in, but coincidentally that's the one filler that isn't + enough to use to advantage lol. So I'll stick to Slice and EX Slice, especially with it being safe against everything 2 specials.