Answer: Oh so much, and more.
After using the Fluxfire Feline for the DMF tamer battle a few times, I can definitely understand why this pet is getting a nerf. One shotting a pet with at least 500+ overkill? And only having to hit three buttons (Wind-Up, Supercharge, and then Wind-Up again)? Ouch. Going up against a pet like that in PVP must be beyond frustrating. Even more so if there's a team of three of these hard hitting kitties.
In PVE battles, though, it's kind of disappointing that it will be nerfed. Is it warranted? Probably.
One could argue that it doesn't really hurt anyone to be so OP in a PVE battle since there's only one active player involved. It's just you and the tamer/wild pet team. Who is it negatively affecting? Are there even any negative side effects?
It's a pet that can pretty much replace any other pet and do just fine, and in the spirit of Pet Battles, that's not quite right. There should be a choice, and a smart one at that, not just a mindless "win button" companion. The overall gameplay intent is being undermined if there are pets such as this. Sure, some pets should be strong against certain types, but a pet that's strong against every type? It makes it painfully clear that that's where Blizzard draws the line.
But that still doesn't remove the fact that it's fun to feel really strong. Which is why it's sad to see the feline get neutered/spayed in 5.2.
Well, that's the way things go, I suppose. Change is only natural and we'll just have to adapt. My only regret is not experiencing the wonder and joy that is the Fluxfire Feline sooner! But I'm sure it will still have a place in Pet Battles, and we'll see if it's still just as strong in 5.2.