"I can understand the reason - there were people who were getting stacks and stacks of baubles each week and as more people became aware of the farm one could see it unbalancing the gold economy."
While that is true, most of the active players really wouldn't cause an unbalance that much, compared to botters (including any type of AFK farming). All they would need to do is change some code to make event progress require a hit...boom no more afk bauble farming! That would be best solution to offset any gold farming imbalance. Most gold farmers use the gold to buy things like a commander tag (300g) or griffon mount (250g), which are coin sinks: no gold unbalance. Usually a player won't farm as often as they should (based on the amount of gold they need for things), but rather something to do when feeling more lazy. For me, it was a relaxing way to farm without having my old bones cramp up.
I ran another bauble to see where the nerf is: both spawn rate is reduced and map bonus cycles 2x slower. The result is about 1/4 the baubles we would get in a run previously.. I expect bauble farming to die out completely, as it's now not worth it at all unless someone new is looking for HoT experience to fill the mastery bars. Some might think this is a good thing, but they'll learn that the active bauble farmers who were there to help on other events won't have reason to go to the map anymore. With even more gone to the EoD maps, they will have even worse of a time finding players.
I do wish ANet would respond on the matter.