Earthquake has been long awaited! But not like this, it sucks. What bottle necks are you talking about, the bridge when alliance are defending it? The ability simply put is useless in bosses and 95% of pvp situations, and likely to be useless on even trash if blizz sticks to their guns with CC.
Ele Shaman don't need another situational talent like T-storm (which has massive use in pvp), they need something useful like every other spec has. That 10% proc is almost nothing, it needs to be at least 30% for it to be worth while, it's only one second after all.
Finally giving us earthquake and then making it inferior to the options of every other class is just another example blizzard leaving shaman an expansion behind.