And the irony of the matter is that the core mining mechanics play to its strength so well... It is the only small ship with 8 internals, fully kitted out shielded miner with limpets, DSS, 48T of cargo and 5 hard points for a Seismic Charge, a Sub Surface Blaster an Abrasion Blaster and 2 mining lasers for LTDs.
All that in a small ship.
It turned out that, against the odds, the CMKIV is one of the best mining ships in the game and THE best Small mining ship bar none and only a fraction of the players can EVER use it.
Now if we just had some Small only content (small pad only outposts with rares and secret data missions etc.)
tunnels underground and through asteroids too tight for medium/large ships... heat signature and smuggling mechanics that play to small ships' strengths and we'd be golden.
Sometimes it's not the ships themselves that actually need to be buffed but the game around them.
The Cobra IV was the best small miner and freighter before that even. It used to be able to have 2 mining lasers and still defend itself. With the new mining tools occupying the rest of the hardpoints, it no can no longer defend itself. The Cobra IV never sucked, people only ever looked at it in comparison to the Cobra III and wanted it to be the same and do the same things, only better. Looking at what it is and it's strengths you see it was always a good ship. Even with it's limited availability the Cobra IV is still more widely used in the Inara statistics than 4 other ships that everyone can access.