If you look at what Pantheon is required to do to remain relevant and how Riot gates his ability to play the game with his abilities, you see this disconnect. He has such high cooldowns it's not even fun to play him because you know that once you engage, you're basically hoping to God that the enemy doesn't outdamage you. Champions like Darius, Fiora, Illaoi, etc. still give him a pretty hard time. He does ok into Illaoi because he can prevent himself from taking damage from her hitting his spirit but after that, he's incredibly boned. If you ask me I think you should reduce the cooldowns of his E, W and Q. They're just too high for him to be this guy who wants to be a baker IRL. Like shave off a few seconds in the early game. Late game they're fine but his early game (which used to be what you picked him for) is so bad that it doesn't matter anymore.
UPDATE #1: I actually didn't expect this post to generate as much good conversation as it did, thanks guys. It was a lot of fun to read all of your comments (as well as to respond to a few of them to keep the discussion going).
A little bit of clarification on my original post. I understand that most people don't believe Pantheon needs a buff in the form of higher numbers and I agree. I don't believe his numbers are an issue. The biggest issue for him that gates him from being what he was intended to be is the cooldowns on his Q. It would be nice to not have his poke gated by such a cooldown as 10 seconds if you choose to throw the spear.