That is exactly the thing. People bring t13 as an example of shaman-dominant tier, but it was not. Outside of Madness, we had hard time catching up to holy paladins.
We were a solid 2nd place though, you can't claim we were the weakest. Telluric currents paired with Unleashed Lightning glyph in tier full of +%dmg encounters made for one nifty regen mechanic, allowing us to drop tons of spirit and go for throughput stats. Admittedly, we required lot's more thought and planning than other healers to max the numbers, but that's what was fun about the class - high skill cap with high reward.
I think, for a while now and maintain my claim, that the issue with the class is it's mastery. Not just because a general, vague, "it's bad". It is, but for a very good reason - it does not synergise with our toolkit at all. Hardly any other spec in the game has its mastery so disconnected with what the spec actually does. Blizzard want's us to be the stacked healers? FINE. Make our mastery play to that strength then. Right now, it's yielding the least exactly when we are supposed to shine - stacked phases.