Disclaimer: I do agree that he's a bit ridiculous in terms of what he can do in such a short window, but to say there's no counterplay is just ridiculous.
Some tips for playing against it:
Set up a vision line if you're pushing, and actually pay attention to the wards. On Kai'sa, if you've got at least a rageblade and stinger, you can 1v1 his Stormrazor Duskblade as long as you throw W when you see him stop moving(because he's W'ing, and your W gives you True sight.) Walk away from his minions so you guarantee isolated Q damage, hit q, immediately ult to the other side of where he's coming from at max distance. He'll automatically land the E Q on you mid ult dash, He'll whiff ult for a sec, and you can get an auto or two in followed by another Q and then another auto, and you can basically just outduel him even if he hits his ult. Nashor's and seekers are a must as your next items, though. Makes dealing with the fed Wu trivial, almost. I've won several games against heavily snowballing Wukongs by just negating his ability to kill me. The key is widening the window in which you have to react.
Jhin, just preemptively trap, then snare and run unless you're massively ahead, then buy tabi and just mess his day up kiting back with stormrazor/ghostblade speed.
Ezreal can buy tabi and/or IBG and kite him back just fine as well.
Draven wins every time if he E's Wukong's E, MF can make it rain and walk away, or set herself up for an easy lethality double up crit, so basically what I'm getting at here is a lot of currently good ADCs have counterplay to him on their own as long as they have vision. If you're supporting said ADCs, just give them vision and buy a locket and they'll be fine.
Also, if you're playing Tahm Kench, just eat your ADC, wukong wastes his stealth, Q him, walk away if you can't fight. Either Wu will engage on you, and you don't care because you're Tahm Kench, or he will wait for you to spit your ADC out, which gives you enough time to set your stun up on him and turn. If you can't get stacks to stun him because of his positioning, chances are you can escape just fine. Don't say there's no counterplay when you're just too lazy to think of it. Also, I like Tahm and Naut too, and I love Alistar. You could try giving him a shot, he completely demolishes Wu's chances of doing anything.
Edit: I like Tahm, I fucking LOVE Nautilus, just wanted to clarify because Nautilus outta this world
with electrocute Auto Q Auto dead other adc.
or have support grab 
Without even taking items into consideration you can E max and just E W and walk away.
treatment and only allowing players to have one or the other would fix a lot of problematic champions.
for example.
