To some players (mainly my fellow shaman), this change has been viewed as a huge nerf. Bloodlust has long been one of the main assets a shaman brings to an arena team. Ever since Season 1, shaman have been able to cite Bloodlust / Heroism as one of the main reasons they were allowed to PvP at a competitive level.
However, Bloodlust has been both a blessing and a curse for shaman. In nearly every season of Wrath of the Lich King, one of the most frequently cited complaints by enhancement shaman in arena was that Bloodlust was the only reason they were on the team. Beast cleave and enh/arms/holy paladin were both comps that relied on the shaman to Bloodlust so that their arena partners could dish out the major damage. Elemental and restoration shaman fared better towards the tail end of the expansion, but there still was an overall feeling that the strongest contribution to the team a shaman could offer was its Heroism cooldown.