So, just to preface, I am a sniper. That's what I play and have been playing nearly exclusively the past couple builds. Right now I'm #5 or 6 on the KDR leader board. So please don't accuse me of not knowing what it's like to be a sniper or whatever and therefore my opinion isn't valid. And yes, I know KDR doesn't mean anything and etc, I'm just saying that I'm not inexperienced at sniping, and am simply trying to be honest about my chosen method of play. I'm fairly sure RankRancid is also a sniper, and his KDR is even higher, being #2 or so. I would suspect that the majority of non-boosting people atop the KDR leader board are in fact snipers.

State of Sniping
Sniping was nerfed in Codex such that, between the Weaponry decrease and the sniping skills damage decrease (3% -> 2% per level, and 5% -> 3% per level respectively), snipers do a total of 15% less damage this build compared to last. The result is that, unless you're in a scout suit or were shot in the head, you probably haven't been one-shot-killed much if at all from full health since the update. Rejoice.

However, sniping is still very popular, and for good reason. Its popularity carries with it the unfortunate effect of making infantry combat less enjoyable for the people playing infantry. A minority of players, playing sniper, are making the game less enjoyable for the majority of remaining people, who themselves are running around on foot being shot by snipers. I believe that, on the basis of pleasing most players, sniping should therefore be made less safe, less powerful, and more skill-demanding to play, so as to reduce the number of snipers and their annoyance factor for everyone else.

The Power of Sniping
Despite the damage decrease, sniping is still one of if not the most powerful way to fight on foot, due to the following reasons:

Power: Sniping damage was nerfed, but what won't kill you in one will more than likely kill you in two. Sniping still offers a way for players to easily get kills from enormous distances. What's more, sniping does not become impotent as a means of combat until the sniper is within very close range of the enemy. Even at relatively modest distances of 25 m, a sniper can rapidly land hits on enemies from standing. No other weapon offers the kind of power and versatility a sniper rifle does.

Safety: With great power also comes great safety. At a base range of 600 m, sniping allows players to sit on a hill somewhere, unseen from most enemies, unreachable apart from by other snipers, and posing great challenges to anyone with a desire to engage the sniper in combat and kill them using something other than another sniper rifle. The safety with which snipers operate contrasts rather sharply with the life of generic infantry, who are prey for every force at work in the game. And yet, for the danger that comes with being infantry, no extra power awaits. They are fodder for people like snipers, whose only serious worry is other snipers.

Ease of Use: The final bit, which plays into the other two points, is that sniping is very easy to do. When crouched, the reticule holds totally steady. Even standing the sway is minor and easily compensated for. There is no bullet travel time, and no bullet drop. One need only put the dot over the target and pull the trigger. As well, the tactical considerations infantry and vehicles have are muted for snipers. Not nearly as much consideration for proper movement, and just proper tactics in general. Only sitting, shooting, and avoiding enemy sniper fire for the most part. For the power sniping has, it demands very little of players who engage in it.

The Solutions
Power of sniping I believe could be addressed by making the time between shots greater. Add something like what HMGs have, where the weapon overheats after every shot and you need to wait a second or two or whatever tests well to shoot again. It is good that we have gotten further away from being able to one-shot everyone. Now give people shot once more time to seek cover.

Safety could be addressed by adding a bright, blue-white tracer to sniper rifles, not unlike ship-mounted railguns in EVE have. Telegraphing one's presence everytime the trigger is pulled would go a long way toward helping enemy snipers, vehicles and pioneering infantry hunt down and kill snipers.

Ease of use could be addressed by adding permanent sway even when crouched, and making standing sway much more pronounced. Demand more skill from snipers, and more stray shots will occur, making sniping both weaker and more dangerous with tracers added.