Gothmog has some choice words on Grey Knights nowadays, as well as some thoughts on what needs to be changed for the meta besides just points.
I have a couple of modest proposals to put forth for the Silver Tin-Cans of Daemon-Hate. Interesting possible changes, that probably won’t happen.
Psychic Phase
This is a place that has a lot of potential for GK. It’s one of the areas they just should be better at. But the rules of 8th edition kinda forced them into just being bad smiters.
A simple idea is that they just have more tables. Picking up SM’s Liberius Table and dropping it into GK isn’t too tall of an order.
But a more interesting option is to expand how their current table works. Something similar to the Eldar Runes of Battle table, that cool dual power system GW came up with, that hasn’t been replicated once.
Sanctic Table (Modified)
Other than that really anything could help. Characters having normal smite, units can swap smite for Hammerhand, or GK can have multiple castings of the same power but each iteration has -1 to cast.
Deepstriking
We’re kind of in a weird place right now. BIG FAQ 2 dropped a bomb on how reserves work, and GK definitely felt it. They’re an assault army with mostly 24″ range guns. But I do see a chance to balance the game with tactical options.
A lot of armies including GK have a stratagem that lets you deep strike a unit/or units. What if those Strats were expanded to also allow turn-one reserves. Then there’d be a cost associated with turn-1 sucker punches.
Alternatively, a good fix would be to change a GK warlord trait (which they have many bad ones) to allow a certain number of units for turn 1 arrival.
Better Wargear
GK melee weapons need a re-work, and a lot of it comes down to point costs. Units, in general, should get a little cheaper, but the melee weapons should actually have different point costs.
Gk guns also need a complete overhaul. They need to come down or be changed to Assault weapons. In a strike squad, it just doesn’t make sense to give up a CCW and a Storm Bolter for the privilege of spending more points. You can’t use incinerators out of deep-strike and being heavy makes the others cost prohibitive.
Honestly, I’d like to see Psycannons changed to Rapid Fire 2 and the Psilencer just be assault. But I’d settle on them dropping in points.
Mordrak Needs Rules
This is just a personal gripe of mine. Mordrak should get rules again. He’s a magic Space knight with a retinue of imaginary friends (who happen to be terminators).
Fixing Units
A big part of why GK suck right now isn’t because they don’t have units. It’s that a lot of their units are terrible and/or actively competing with each other with little gain.
GK in Terminator Armor
Ideally, points across the board should drop a little. A big part of why Terminators are expensive is because they have natural deep-strike. Which no longer works turn one so maybe that should factor into their points cost.
I’d argue that Paladins could get away with being bumped to T5 and gain the ability to cast two powers. They are naturally/unnaturally/mary-sue (would that be Joe-Smith or something?) superior beings that can fight Daemon princes in their underwear.
GK in Power Armor
Attack Squads. Strike Squads, or least Purifiers, should just get +1 attack to their stat line. They are just too ridiculously expensive to have a basic Tactical Squad stat-line.
Purifiers should drop to 3-10 squad sizes, just like paladins (They’re are literally only 44 of them in existence). They don’t have “Brotherhood of Psykers” so they are limited by the smite +1 per casting. It’s just a simple change that lets you fill out points better and have slightly more units.
Interceptors are just more expensive Strike Squads that move faster. You can’t make them cheaper without creating a superior option. So instead of making them cheaper just give them something that makes them different. They’re playing it loose with phasing in and out of reality. Give them a -1 to hit or a rule that lets them teleport close enough to enemy units to use incinerators but forbids them from charging.
Purgation Squads are a tricky thing. If the guns got better/cheaper they’d probably be good as is. But a simple addition for them would be the ability to always cast Astral Aim on themselves, even if someone has already cast it.
Dreadknights
Either make their guns assault or give them relentless. A big reason why Grand Master DK replaced them is they highlighted exactly why DKs became bad and presented an immediate replacement unit. They just need to hit more with their expensive war-gear while on the move.
A cute trick would be to make the GMDK only buff DKs, maybe even giving a relentless aura.