Specifically the change for; "instead of a 3-hit combo doing 100 → 100 → 100, now it'll deal 50 → 100 → 150"
Although I appreciate the idea behind the change, to be more strategic and I'm assuming as a counter to "guard cancelling", I don't believe this achieves that result and is too punishing as a consequence.
Currently the only solid damage is coming on the third strike in the combo. If you have to interrupt your attack for any reason, such as blocking/parrying/missing, it prolongs a battle and puts the player into "stamina debt". i.e. swinging when you only have enough stamina for Hit 1 deals little damage, blocking hits consumes stamina, and so you're forced to tank hits directly until your bar refills to commit to a full combo again.
A few users on the reddit discussion have suggested that landing a full combo be a "bonus" to damage dealt instead, modified by weapon type. Getting a full combo is easier with fast weapons, so a lower reward, while slow weapons are the opposite. I think this would achieve the effect of making completing a combo as the desired action without such a stiff penalty to individual hits.
As a somewhat related suggestion; it would be nice to see more done with the "charged attack" action. Perhaps each weapon class getting a unique "move" such as an AOE ground pound from clubs or a flurry of stabs from daggers. Something you'd be committing a full stamina bar to doing for a big result.