I'd be shocked if Maw isn't the regular go-to in competitive. It's just too valuable and split push is so much easier to punish with coordination. I've been wrong before though.
How is the damage lower, however? I didn't deep dive the patch notes for the first time in forever, but it feels the same to me if not stronger.
EDIT: I see autos and Hydralisk decreased in damage, Banelings increased, but Hydralisk lasts longer and extra range is now basically baseline thanks to creep. Really seems like a wash to me at worse and all the numbers from the games I've played with/against seem similar or higher.
Her auto attack damage was a decent nerf, and the quest talent at 4 doesn't actually add that much. Her hydralisk was significantly nerfed, and there was no extra duration added. Yes, mutalisk lasts for 60 seconds at 16 but you never took it for that anyways.
She's a lot less of a lane bully early on now - better at killing the creep waves, but much less dangerous to duel. You actually have the option of killing the hydrlisk rather than just running for the hills when it pops.
Banelings change is fab, but it doesn't make up for that loss in damage.
I still think she's great, but she's not the assassin tier damage she used to be - her two main damage abiliities were significantly nerfed and the quest talents don't make up for that. The loss of helath regen on creep also made her weaker early game as well.