It might be a sad decision to make, but nothing was 'dumbed down'.
IMHO the 'correct' solution, if you want to remove the handgun picture is to remove it from the emoji keyboard (and possibly refuse to render it) and introduce a new water pistol emoji.
Besides, a small watergun graphic is just an often futuristic looking gun with neon colors. Hardly something that suddenly is unambiguously not a killing device.