Quite the opposite actually.
Barring the fact I was still able to dodge/get clipped by PAs it's a changer but it's meant to make you focus in the OPPOSITE direction.
It's an equalizer.
From how they described it, here's how it works.
For the sake of ease of example, we'll say the PA does 100 points of damage.
Jimmy Newbwinder is fresh to the game, he just bought his first Cobra MK3 and takes it into a CZ. It's been upgraded at the outfitters but he hasn't taken it to the engineers.
NPC Python 2xPlasmaMcBadass in the CZ launches his dual Plasma rounds at Jimmy Newbwinder's Cobra. Jimmy tries to dodge and takes one to the face. He take 100 points of damage. No resistances because he hasn't take it to the engineers.
Now Tommy "TwoTon" FDLPvPGod takes his heavily modified FDL with as many armor modifications into the same CZ and gets shot at by the same NPC Python 2xPlasmaMcBadass. And takes one to the face.
As of before this change. Tommy would normally just laugh at the Plasma round as it plinks off him doing only 20 points of damage since he managed to engineered his ship armor resistances to 80% (just for the sake of the example, I don't know if this is actually possible). With this change, Tommy might be g out more because it would be doing the full 100 points of damage ignoring his 80% overengineered armor.
Jimmy on the other hand wouldn't notice any such damage increase because it's doing the exact same damage to him anyway.
So you have two ships. One engineered to resist all forms of damage, the other does not. The PA doesn't care and will do the same damage to both with this change.
This change will give the ILLUSION of a damage increase if you're used to seeing lower numbers due to higher resistances. If you're used to flying an unengineered ship, you won't see any change what so ever.
Think of the PA as an equalizer to put PvE people on even footing with the PvP maniacs who overengineer their resistances and help you tackle higher ranked NPCs Dangerous, Deadly, and Elite who are likely to also have these engineered mods. If you're used to taking full damage anyway, you won't see any such change and will just shrug and carry on like normal.
So to unengineered ships, this is a nerf. Against engineered tank gods, this is a huge buff.