Torps do need a boost. Not much of one but it is needed. I think they do need to introduce a rapid salvo of some kind (high yield just isn't it).
Even a HY3 fully buffed will not remove a shield facing. More likely it's the cannons, or dual beams that did it long before.
I think it more lays with the torps themselves though than the powers. Photons are worthless. Utterly worthless. (I have several ships which can fire them often, and frankly even in a 2x high yield build they suck) They just don't do enough damage to be worth anything.
Either the torp damage needs to be raised, or the ratio they hit and damage shields with needs to be changed. You can see this poor relationship the most with Transphasic and Photon as they deal so little damage. (Transphasic torps will deal as much damage to a hull through shields as a quantum will,
Honestly they do great against a hull, but not so great vs shields and I think this is where most of the problem is. A beam overload is a far more attractive choice for most gamers than a high yield 3 is. (Which is by far the least efficient torp skill..... Torp spread is so poor I just deny it's existence) Because it's a gauranteed Shield Be Gone, as well as Hull Melter. The problem is with torps is your opponent can probably at least manage to get a magical Sliver of a shield up to mitigate pretty much all the damage from a torpshot.
Where is if that had been say a BO3? you just probably melted his hull anyway.