Here's the problem I see with buffing weapons:
While yes, smaller ships would more effective, due to damage scaling and whatnot, titans would become even more broken. The current PvP meta among the best players is not about fighting anymore. Most PvP titan battles these days are reliant on who gets the first shot, rather than who is actually the better player with a better ship. This is because at titan level, weapons do such insane amounts of damage, a decent can easily kill another titan in a matter of seconds. This is obviously broken.
I feel like instead of buffing weapons, we should first buff the hell out of shields and armor, so titan fights aren't as boring. Then, smaller ships should play a role in battles, such as bombers that would get a large maneuverability stat that would decrease the chance of shots actually hitting it. In order to encourage people to use bombers, players should be able to tell them to target systems and if the bombers are able to hit, the enemy ship would receive some kind of penalty (such as damage to shields and power). Fighters could also serve to protect the titan from bombers and other fighters. This would make titan fights much longer and more epic as they should be.