It does 1d8 but yeah, they probably would. At least one player and the DM hardly have the best concept of power. And on that game I already do have power attack. I'm probably not getting as much out of that as I could though.
To be clear, the DM thinks Monks are overpowered and wizards are underpowered. I don't know why and don't care why. I'm not going to change his mind without playing a wizard or shoving the evidence in his face at which point he'd just think "Why do you care so much?"