No, it doesn't need buffs (and especially not nerfs). Like @SilenceKiller99 said, it's a good card, but generally redundant. There are lots of good combos with this card especially with buffs, and I generally feel that it's slept on a bit, but all of the counters to it are really essential. Nature has cc like oink or hurricane, Frost has freeze (which, admittidly, is a good thing if you can force it, but frost doesn't need to worry about this card) and basically any Frost t1 card beats it. Shadow has darkelf assasins. Fire can disenchant them if they get over-buffed, and scythe fiends beat them without buffs.
So the reason the card isn't very popular is because most factions have better options, and almost every normal deck already has strong counters against them.
HOWEVER, those reasons don't hold up in tome I made rank #1 in tome with rageclaws, darkelf assassins, rallying banner, and unholy power in my t2. 4 cards . But in tome, every deck has holes, and rageclaws are very strong if they aren't countered properly.
But back to real decks: They're useful in a fire-frost deck because rageclaws have good dps, and frost units struggle a bit with it. If buffed, rageclaws are good against fire and/or shadow, because those factions don't have cc (or good S knockback). They can be useful against frost to force a freeze (or t1 cards, which you can kill with a drake). But rageclaws are essentially useless against nature, which means they can't be depended on to kill burrowers, which means you need another M counter in addition to rageclaws for the nature matchup. Since most decks don't have room for a card that is useless in 1/3-1/2 of the matchups, rageclaws are rarely used.