It's not necessarily the Wisdom bonus per se, but rather, the Wisdom to damage feature is easy to remove without upsetting function of the rest of the class. Thus, if I have to cut damage output, that's the place to start.

Currently, we are running a low-level monk in a campaign that has just hit level 2, and a high-level monk in a campaign that has just hit level 12. The level 2 monk is doing quite well and fits appropriately into the party, but is not yet of the level where he can stack too many options.

The high-level monk is stacking a monk's belt, Superior Unarmed Strike, Snap Kick, and +Dex and +Wis items. With Dex 20 and Wis 22, this gives him an unarmed damage of 6d6+11. He makes between 4 and 6 attacks per round, depending on whether he can full attack and whether he is hasted. His attack routine with Snap Kick is +20/+20/+20/+15, so most of his hits will land, especially in fights against numerous lower-CR opponents. His damage output thus averages about 90 - 180 per round, depending on circumstances. He performs noticeably worse in boss fights where his attacks tend to miss much more often. Combining his Sun School feat with Empty Step, there is very little that can prevent him from making at least 4 attacks per round.

We run fairly high-op games, so these numbers aren't completely beyond the pale, but my concern is that it was easy for him to do this. He's using two popular monk feats and three common magic items to do this. It's not an obscure or fiendishly clever build. So, as mentioned, I'm kind of on the razor edge between "meh" and "oh jeez".