i've only played a little bit since the update so i can't say definitively if they're now the basement dwelling weapon type, but they were already seriously lacking. Before the patch it was all handcannons (TLW, hawkmoon and thorn being the best three guns to use in PVP), and now after further nerfing auto rifles/fusions/shotguns it seems like hand cannons are going to be the only guns worth using.
I haven't used a pulse rifle yet since the update, if anyone has and can speak to their effectiveness i would appreciate it. i'm not going to be on again for a few days to test it out any further.
EDIT: No consensus so far, not even close. A lot of people think the update had no real effect. But a lot of people think it had a big impact.
I feel it had a big impact. Hand cannons weren't really impacted and still reign supreme. Pulse rifles are now improved and can potentially kill with two bursts(depending on accuracy and the rifles stats) and the auto rifles time to kill is much worse. If feels to me like you're forced to either use a sub par gun, or use a hand cannon.
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Auto rifles are not even worth using in PvE anymore much less PvP. I find handcannons are quite a bit less accurate than before or they have a good bit more variability in the accuracy.