Is this really, really a problem?
It's a huge problem both when used offensively and especially when used defensively. That move alone shits on more than half of the cast.
I am almost never a proponent of nerfs and I have opposed almost every nerf that was put on there, only approving those that are generally OP. I honestly do feel that Mag Blast is a problem and a bit too good especially in this patch which will be lacking strong Vergil/Zero/Viper (Mag Blasts already shit super hard on Viper).
Basically when I think of Magneto and why he is top 5, these elements about him strike me as being insanely good:
1) Mobility (not being changed)
2) Meter build and combos (being nerfed slightly with the Grav change)
3) Throw game (not being changed)
4) Magnetic Blast (debating the change)
5) Great normals (not being changed)
6) Great mix ups (not being changed)
So when we greatly nerf 4 out of the 5 characters while making very slight changes to Magneto, it pretty much confirms him as the undeniable best. His Mag Blasts made sense in an environment that was filled with OP stuff but when you remove most of that other stuff, Mag Blast will simply stand out more. I mean if we are nerfing stuff like Bold Cancel then there is more urgency to nerf Mag Blasts.
Being the best character in the game doesn't mean you need nerfs if nothing you do is broken. Magneto's strong. But he's not stupid.
And that's a legitimate statement but that only applies if your best character in the game actually has some legitimate weaknesses. Magneto has some of the fewest cons in the game going for him.