My two cents:
Seems like Bioware has decided to capitalize on the strengths of the game by focusing on the storyline/narrative aspects; just look at all the new story content in the expansion, new chapters to be released later, "legendary" status for completing all storylines, etc. A powerful companion lets the player focus on the story, rather than having to worry too much about fights/gearing.
Are they powerful? Yes, but it doesn't bother me in the least, as a player who primarily likes SWTOR to enjoy a cool interactive Star Wars story. I know there are many players out there who play for other reasons, and that's fine, but I'd hate to see the nerf bat swing too hard because they are a louder chorus than those who have no problems with the changes to comps.