Not an Olaf player, but shouldn't it be troubling to anyone that the community starts to think that every champion with a low winrate is in dire need of a rework? Rework were once reserved for broken Champions that couldn't be balanced by numbers alone.
And now everyone thinks "his" champion needs a rework, just because the meta is not in his favor.
Does Renekton need a rework? Does Brand need a rework? Does Trundle need a rework? Does Ashe need a rework? Does Varus need a rework? No, at the moment they are strictly weaker than their opponents because the game itself is broken. I'd propose fixing the fundamentals of the game before touching any champion whose existence is not the problem.
If you wonder what I mean by that I am mainly concerned about the interaction between melee and ranged ADC in teamfights, which has dictated the balance of the game for years and is the primary reason that champions like Olaf feel so binary and boring (either you get that ADC or you don't), and champions like Varus and Ashe so weak in comparison to other ADCs. Yeah, give people like Tristana a slow (with redbuff), this won't break the game at all… sigh… (In a sense that every bruiser needs a gapcloser to not get kited by tristana or obscene damage to stop her damage. There's no in-between and the current meta is a direct consequence of that. Either you are a big fat badass tank that occasionally kills the enemy ADC or you have burst or you can peel for your ADC. There are no other roles in teamfights)
TL;DR: Olaf is not broken, he doesn't need fixing, it's the ADCs that need a rework.