If anything, I really hope they find a way to balance them only for PVP.I wonder if Bungie is going to take a serious look at ToO stats like they did Crucible in general and do something about the exceedibgly high Hand Cannon usage and lack of just about every other primary outside of a few Red Deaths and Mythoclasts.
I don't think the solution is more Hand Cannon nerfs. Any damage nerf would cripple it as a weapon since the slow rate of fire would make it useless as a 2 Headshot + 1 more shot kill. Range nerfs might be in order again, but the only thing that makes sense is to buff other weapons to have a similar TTK. Even then, high level players won't switch since the HC is just a better damage delivery gun with more control over damage from each bullet.
As a PVE player, I would be quite pissed to have to deal with nerfs again for the sole reason of the PVP players using this kind of weapons too much.