I can't agree more. Yi is too low of a risk for having such high reward.
"BUT HARD CC SHUTS HIM DOWN"
Just like it shuts anyone down. That isn't a weakness that balances him out, it's universal. The main issue with Yi used to be that his laning phase was a bit on the meh side, but by taking him to the jungle you completely circumvent that. And even though he lacks good CC on his own kit he can deal so much damage in such a short amount of time that even if, by some miracle, he doesn't get the kill during a gank one of his laners probably still will. People are rewarded more for playing a low skill champ like Yi than for playing higher skill cap champs, and that isn't how it should be. They aren't making plays or even worried about teammate's scores, because a Yi knows if he gets fed he can carry harder than Atlas.
Sure he doesn't bring CC. He has zero utility for helping in teamfights or during skirmishes. He's all damage. However, the contribution that Yi, or other stupidly effective binary champs, bring to a team is being able to get lanes snowballing through oppressive force. It doesn't matter if he has any CC because the Nami getting fed off assists has plenty to go around. It doesn't matter that he can be shut down by hard CC when he gives his top Jax room to free farm.
When I would rather lose to a Yasuo or a Warwick than a Yi, there's a serious issue. I've even taken to reporting Yi players who spam "Ez" in allchat for being unskilled because so far as I'm concerned, they are. I can understand why he's so simple: he's an entry level champ, someone to help new players learn mechanics of the game, and the different roles. I get it. But the champs who are so painfully simple shouldn't be so straightforwards that they're stupidly effective as well.
Warwick shouldn't be able to press R and win. Thank god for those nerfs.
Annie shouldn't have so much burst for someone who's got a stun that can be up every few seconds. Only reason she isn't OP is that her range is utter crap and she HAS to land Tibbers most times to really lay down a beating unless she's so fed her W roasts people alive.
Master Yi shouldn't have so much damage, and invincibility, and healing, for someone who literally only has to run into lane and press Q E right click for a double or triple.