Diamond level Zac player discussing why Zac's ultimate change gutted him

Alright, I have gathered my thoughts after playing Zac for a day and want to pin point exactly why I think Zac has not just been nerfed, but totally gutted. First, I will go over some math. If I am not mistaken the base damage from the old ultimate and new ultimate didn't change. What did change was that you could only do the damage once. All together, with the old ultimate, you could get 250% of the original damage off (100% for the first bounce and 50% for each subsequent bounce). That means Zac lost over 60% of his ultimates damage. It is even worse when you consider the loss in healing from the extra 3 blobs and loss of damage from getting off more Unstable Matter uses from picking up the extra blobs. Now, you might think that with such a damage reduction, the champion would get damage elsewhere right? Not for Zac, no, instead he had damage taken away from his elastic slingshot and from his Stretching Strike too. If his ultimate could scoop people at a larger range then a blitzcrank hook, maybe, just maybe there could be an argument that this isn't a nerf because of the utility that would have. Right now, Zac's ultimate is basically a blitzcrank hook that can grab more then one person (though most of the time I could only grab one). Unlike a blitzcrank hook, you need to put yourself in extreme danger to get it off (melee range) which means landing a skillshot (elastic slingshot) that can be dodged or interrupted (blitzcrank hook can't be interrupted). Also, a blitzcrank hook has a much shorter cooldown and does more damage until you get your ultimate to rank 3. Sure, there are some interesting things you can do with Zac's ultimate that you can't do with a Blitzcrank hook, but is that tradeoff even remotely worth losing all the damage, healing and utility of the old ultimate? From my experience yesterday, in 90%+ of the situations I used the new ultimate, I was left saying "I bet I would have gotten a kill/not died if I had the old ultimate". The only times where I did not say that, my team was already stomping. I really don't know how you can take 60%+ of the damage from an ultimate away without really giving any damage back in the rest of their kit and expect that champion be viable or fun. Has any other champion in leagues history had so much damage taken away from them and still be viable?