actually Olaf isn't meant to go and scale up into the lategame, his level 1-3 all-ins are in fact SO strong that he's balanced around that.
think about it: both Jax and Yas have passives that scale up in the later part of the game, for Jax its more attack speed, for yasuo it doubles his crit value which is OP, and lets him build tanky after rushing crit.
Olaf's passive is at full strength from level 1 and onward. if you as much dare to walk up to him in lane at level 1 he'll chuck a axe to you and all-in you. if you dare to attack him, you'll make it worse as he's autoing more than you now. and auto attacks are very important in early trades / all-ins.
i dont think that there is ANY champ that can beat Olaf level 1, not even Warwick or Jax. if he gets an early kill, he'll keep trying to kill you more and more until he starts falling off, which is around the mid-game. from then on out he's a glorified splitpusher or a slow bot. but if he is ahead he will dive your backline and obliterate them.
buffing olaf in any capacity either makes his early game even stronger, or fixes his late-game which is meant to be his weakness.
That's all.
