As someone who has a hunter and use Eyes of the Beast fairly often. I think the best nerf to it would simply be a 50% damage reduction in the damage while under the eyes.
This allows any RP or gameplay elements to remain (as no one should seriously be doing DPS primarily in eyes anyways) while also still allowing ‘PvP’ to occur at a much less oppressive fashion.
PvP Pet VS Player! I just got that.