I'm definitely open to buffing the PL in some way. I also don't want to make it "smart" re: not firing on shields etc; that feels like something to be *extremely* sparing with. (Not that this came up here, but that idea has come up before.)
I feel like the reason it's in a worse spot now is not so much other energy weapons getting strictly *better* as its niche getting encroached on from two sides - by the IR Autolance as anti-fighter, and by the changed Mining Blaster as comparably efficient anti-armor. It has some edges on either, and it can do both jobs, so it still has a place, just less of one, imo. And of course the Graviton getting better does hurt it, too.
I wonder if something like a fairly hefty reduction in flux cost might be sufficient. It does good burst damage already, I don't think that needs to change. But if it went to .8 or even .6 (instead of 1.2) flux/damage, then the anti-shield use would be more ok, and it'd get a boost as an anti-fighter option, and it would further be solidified as a low-flux option (that still has some punch) for a medium slot.