Morgana needs buffs in other places, not in her shield.
The problem is that Morgana (with her old shield) can put her shield on a target and completely **** over a few champions. No other skill can counter a champion quite so hard and can be put on any of your teammates. The old implementation screwed over fiddlesticks entirely, it screwed over zilean, it screwed over teemo, and it would screw over Malzahar harder than anything you can imagine.
I agree that nerfing her without buffing her was a bad idea, but reverting the shield is not the way to go.
The changes earlier to Tainted Soil and Dark Binding didn't help much either. Yeah, DB has a shorter Cooldown, but think of this: They made Tainted Soil do most of it's damage at the end... and they made Dark Binding shorter. How did they think that was a good idea, again?
Riot just doesn't seem to know what to do with Morgana.
Any decent player of those champs new this, and adjusted play style accordingly. Your argument is also flawed in that you're suggested those people should have no counter, when in fact several other champions have the ability to do so already. You're also suggesting that the slowest, most anti-equiped champion in the game should have no real support ability while being just that, a support class. Morgana's shield took VERY LITTLE to blow up, and higher levels of play meant adapting and blowing up the shield before using CC.
-There were no complaints about her shield anywhere when the nerf was implemented-