Dunkeroni you are right but the problem is that Riot doesn't always nerf like that...I mean " Just to balance and not to remove identity of a champion"....
Look at Kha'Zix for example. He had identity and a damage, they nerfed his damage and changed the range of his Isolation so his identity is erased from history because his identity can't work without his damage and if his isolation range is fucked up.
That is the main problem with unique champions such are:
If they nerf her damage she'll be just a cocoon stun bot, and than you realize that cocoon is just a single target stun and that it's not easy to stun someone you want in the middle of a team fight because someone else or a minion can block it making you a sitting duck.
If he doesn't have enough damage and isolation that actually means ISOLATION he isn't able to pull off that damage and assassinate his target. Why leaving an assassin with such a great utility he can't use at full potential because he can't isolate his target for max damage? I mean....he can achieve that isolation but ONLY if squish is dumb enough to stay 600 miles away from his team mates.
What is the point of being a stealth predator like hunter with burst damage if your enemies can SEE YOUUUU like they are Saurons from LOTR. Do you know what's the problem with Rengar? Not his damage nor his Stealth but his overall wrong identity. Dont get me wrong, he has identity, good enough but completely wrong for that type of kit. Rengar should be a fighter who can be able to 1v1 any squish but not in 0.28 sec. Only 2 things in Rengars kit are special for him, his passive and his ultimate, everything else can be reworked into something fighter like and believe me, with unchanged passive and ultimate Rengar would not lose his identity but will be much more healthier and not just "Go in and die" or "Go in and erase someone and die".
What if they nerf his damage? It's not all about damage, he is an assassin and he should be able to assassinate you quickly but if they nerf his damage, his kit simply won't work for him and he will lose his identity. Problem with Zed is his Passive that for whatever reason works against minions and unlimited range on the second part of his ultimate, nothing else but no, Riot will gut his damage because it's a lot easier to do instead of slightly changing his kit but leaving his identity intact. How can 
and
have range scaling with ability level on their ultimates but Zed cannot? By adding some range on the second part of Zed's ultimate (ofc a lot shorter than Nocturnes, Pantheons and TF's) Zed's abiluty to switch back will be there but he could be punished for a bad play because well...if he ults that
under his turret realizes he has made a mistake, by switching back to his R shadow he could be hit by Xerath and probably killed and punished...but why if I can let Xerath to push than press my R than he flashes, than I use my W and than I flash and jump across the whole mid lane under his turet, fail and than press R again and POOF I AM UNDER MY TURRET LAUGHING AT PANICKING XERATH!
See the problem? Nerf Rengars Damage and his identity will remain intact only in Lore but I dare you to press R and ult that "Squishy Vayne" who will chunk you down to half HP with a single Q and
passive proc with a single 1st AA...huh. The point is that you should kill her before she kills you which would be impossible if assassin doesn't have damage :)
Down vote me as much as you want, but as a guy who plays League for straight 5 years I saw many champions losing their identities simply by Riot nerfing their damage because they could not do what they were supposed to do.