It is much to powerful. The devs need to deal with that.
Absolutely, unequivocably not. I like them as they are, they provide a challenge at times that are otherwise sorely lacking one. In general I'd oppose any change that would make the game easier.
I'm not saying that the game should be made easier, but that this event is not what I think of when I think if pirates in space. I think the pirates should strike fast and take out as many econ bases and freighters as possible, not dominate the galaxy. The Dread Lords event on the other hand (at least in my experience) needs to be a lot stronger.
The pirates should be able to gain BC from destroying freighters and starbases. Their ships should be one weapon level below the most advanced player. For instance, if you are using Disrupter weapons, the pirates have phasors. If you are using Harpoons, the pirates have stingers.
Because of that, they should be coded not to form fleets and to avoid warships from a major civ, only going for Cargo-hulls and starbases.
They should be able to do something with the money, too...
I like most of these suggestions, it wouldn't be too bad if they were on par with or even slightly more advanced than the most advanced player, not totally destroy all their ships. I think they should spawn closer to econ bases and freighter and focus on killing them, they should be faster, not more deadly than the major civs.
A kind of funny situation has developed now. I have no ships or starbases, as far as I can tell only the Altarians have a large fleet and everyone else's military rating is dropping just about every week. The pirate ship now hover around my planets (and the planets of the other civs, waiting to strike. Its like pirate stasis or something. Its pretty strange. I get the Pirates event before I thought, but this one seems way more massive.