I'm not saying cloud drake doesn't need to be stronger, as it is currently weak. But think this would be a problem. Adding tenacity to make it better (even if it ends up useless) just becomes a clouded mess of balance and will confuse players until it is inevitably changed.
If it ends up being overbearing then the problem becomes obvious as we haven't solved cloud drake's problem, just changed it.
Even at 15%, this will encourage many more top laners, junglers, and supports to build into merc treads, as well as making the tenacity / slow resist mastery in the defense tree even stronger than it currently is. There would be outliers like Irellia (which you pointed out) which would also further break this.
I don't really like the idea because of how mandatory it would become, which is flame dragon's problem right now.