I'll most of the reasons I think it's bad, and hopefully we can get some back and forth on the topic..
I'll start with the power reduction, this was one of creeps strongest areas as their ability to drain power would often end otherwise long boring attrition-based stalemates. The reduction basically allows for thoughtless spam-based rotations with little to no thought to skill use, power consumption or timing. All power-drain skills are essentially worthless anyways do to the pace of current combat but it's literally next to impossible to drain the opponents power anyways, and I rarely see classes dip below 75% of their pool.
The CC length reduction has been made meaningless as well, with the change to DR reset timer. It doesn't matter if the second root or stun is only 3 seconds, since with full audacity they'll last for 7 typically and a whopping 10-12 seconds later the timer resets and it's back to 6-7 seconds duration on root and stun. Not to mention fear isn't included in the daze-root-stun applications for some mindboggling reason so you can literally be nearly as permanently greybarred as I not-so-fondly remember in shadows of angmar. That's pure garbage, noone wants to sit at their keyboard and just....watch themselves sit there and die. Not entirely positive how that's beneficial in any manner, since the DR change essentially undid whatever good audacity granted to pvp, temporarily. This doesn't slow down PvP by making CC more meaningful, it just allows idiots to spam it more willy-nilly (which is what they do) and make others basically a non-factor in fights.
The damage reduction.....as I've mentioned in prior posts, has been made worthless in light of the changes to outposts. I won't expand on that as I have already done so elsewhere, but forcing freeps into audacity gear in order to curb stat stacking has failed miserably and despite what many think more audacity is simply not going to solve the problem.
I don't propose any solutions, but I do recognize that initially it did fix the problem of the majority easily obtaining the orthanc set and the unrealistic damage of first ages post-release of rise of isengard. However literally every beneficial aspect of audacity has been essentially undone by changes made entirely within the PvP zone.