Without this perk the fencing one shot build is dead. Plain and simple. 

Before you could take the a very specific combination of perks to get a majoris into execute with a fully charged ground pound whenever you wanted. That 10% damage was needed.  

I think this is fine, the block hammer was used in the past to hit the 1-shot threshold with the compact jet pack without any set up (and without the need to charge the jetpack) and it still hits the threshold - more delineation between the weapons is always a good thing.

Now it is more obvious to use fencing for defence and block for offence or you can use balanced now to achieve the same thing as fencing prior to the changes for something in between. Also not gonna lie, I didn't think anybody who bothered calculating breakpoints actually used fencing hammer over block hammer since the latter is a more practical breakpoint for both chaos and nids while also hitting a breakpoint with a fully charged aftershock (not flaming, just surprised as I swear I only see block hammer users nowadays - especially the min/maxers in lethal/absolute).