I personally dont fly capships, but my experience with subcaps it is the same way with them.
Most ships flown in PVP are armor tanked not shield tanked because of the neut issue. The factors I have seen that pretty much negate the shield tanking is the rise of webifiers, stasis fields, and other signature increasing or ship slowing effects. Makes shields pretty much pointless for their one major perk… they dont increase the ships mass and slow it down.
That and shields naturally regenerate over time so you can have a secondary buffer when you armor tank that you really dont have when you shield tank.