It would depend a long on exactly what was changed, so naturally there is cause to be concerned.
However, OP is basically going off on one about something that we don't even know is happening or will ever happen.
A long time ago, back when engineers was coming in, i said it should be a good trade off whever you engineer. More weapon damage? A lot more power drain. Unfortunately the downsides to engineering are far outweighed by the updsides. That i feel was a mistake.
However, what is done is done, and to change that at this point would not only upset a lot of players who have invested a lot of time into their ships, but, depending on the changes, render many unflyable. I think if that happened, many people would just quit in disgust. At the very least, i think FD would have to offer the ability to reset modules and get all data/materials back to allow people to respec their ships.
On a personal note, as a PvEer, i don't really care too much about the power creep in general. However, (i think) it is because of this power creep that combat zone ships were made into bullet sponges, and that i don't like.
I think its pretty obvious as well that the people driving the suggestion for change to engineering are those with an interest in PvP. Now, while that is an understandable and even laudable goal, trying to bring balance to PvP, i think the problem is much more far reaching than just engineering and extends to ship stats and modules, and in order to bring a better balance to PvP it would require a complete rework of just about everything relating to ships.
Personally i'd rather they not spend time on this and get on with working on Fleet Carriers... oh....