The reason Electrocute and other runes feel unfair
IMO is the champions themselves. I main Yasuo. Yasuo only has certain runes that will make him really good in a competitive sense. Like If I go with the sorcery tree as my main tree, I will lose attack speed and damage and other things I, as a melee champion, desperately need. If I go electrocute I lose out on true damage from conquerors. That true damage is a big deal to a squishy melee champion. Sure other runes work, but I would lose something that is pretty much keeping me Viable. Before Conquerors melee champions where in a horrible state.
Now you take champions like Fizz or Zed or whoever. They build electrocute, not because they need it to function in the game, but because it's a bonus to them. The difference there is key. A bonus damage rune and a rune you absolutely need to function. Zed has multiple sources of damage and lethality. He doesn't need Electrocute to function, but 500 damage from ignite and electrocute sure go a long way to make him overpowered and doing too much damage. IMO the troubles in this game come from the champions lacking a need for runes and are just given a want. Giving champions a want and not a need is what is causing this broken meta. Does Zed need Two identically built items for massive damage? No. Do his players want it? Of course. Riot gave into the wants of this game and not the needs.