I feel like these nerfs to hordes and your proposed approach of 'nerfing without taking the fun out of them' is contradictory to eachother. These nerfs very much so take the fun out of hordes. Rebels aren't fun, rebels have never been fun, and forcing hordes to deal with more rebels than they already do seems backwards if your goal is to maintain the 'fun' of playing hordes, and the combined nerfs to monarch point generation from razing and the terrain-related shock modifier means that being a horde is pretty awful again, especially the farther the game progresses.
That seems very backwards if the goal is to maintain the fun of playing a horde. We're back at this whole 'reform or die' scenario again, except this time hordes get new units for teching up their military, except that's evened out by the fact that they're going to become increasingly worse as they expand. Forcing players to switch out of being a horde isn't fun because losing all your flavor just so you mitigate some penalties isn't fun.
Sure, I'm not the best player around and maybe I'm blowing these changes out of proportion, but I can't see these changes playing out well if the goal is to nerf them while maintaining the fun of playing them.