Yes.The original design of the game had players losing and regaining their shields on a regular basis. That's why module damage exists, to add interesting game play challenges as a result of battle damage. This reliance on shields being the be all end all of most combat has really held the depth of combat back.
However, it will take far more than a rebalancing of shields and SBCs to regain what was lost. Every facet of ship performance has seen radical inflation that makes combat in the current game vastly different from what we originally had. It's going to take a radical overhaul if they want to fix that...and I doubt they do.