FYI... Game balance - Wikipedia
Some interesting passages there....
"Most recently, game balancing takes players more into account, especially regarding the player created “meta”
"Improving game elements (and sometimes game mechanics) is called buff, a devaluation is called nerf. Both can be achieved indirectly by changing other elements or mechanics or introducing new ones"
"If a game is to provide a continuing challenge to players, it must also provide a continuing motivation to play. The game must appear to be winnable to all players, beginners and experts"
"The highest goal of balancing is always preserving or increasing the fun or engagement"
Game balancing is very important, wouldn't you say.