mmmmm pancakes....
Soooooo I do not think the x-wing is the weakest ship (especially not naked). In a vacuum with no upgrades the x-wing is good, when upgrades come into play it is still good but a little basic. I still feel like naked a rookie pilot is better than a blue squadron pilot. The dial and the extra defense die are pretty important.
Overall the meta change makes it seem weaker because the popular ships now are strong against it. If the meta swings again than the x-wing could possibly be great again. I can see where some people are a little butt hurt about it though as the x-wing is one of the 3 most recognizable star wars ships that you can use in the game (falcon, tie fighter are others), and for those where its all about the movies and not the extended universe it can be a little depressing to play X-wing and have no x-wings on the board. I definitely don't think point recosting x-wings is a good idea though. Makes things messy with printed card values, rebalancing other ships, etc.
Unfortunately, this goes back to some of my original comments and ideas that tournaments are becoming more about rock, paper, scissor list pairings and less about actual flight. I feel like if more tournaments were in a two list single faction setting (similar to war machine) then we would see a little bit more variety. A rebel player may take double turreted pancakes as 1 list to try and deal with a lot of the popular maneuver lists out there and then take a death star run x-wing squadron to tackle tie swarms, dove fleets, and firespray builds.