you don't fight her really. the best you can hope for most of the time is to go even unless you are another high dmg juggernaut or carry who can dodge her abilities.
she does have her same shitty kit as ever even if it is severely over tuned right now. her Q is slow, her tentacles are slow, the E is dodgeable.
where illaoi really is a nuisance is her ultimate. it is basically a "you have to disengage button." if she ults you run. thats the only counterplay unless you are WAY ahead. if you are super far ahead sure, fight her in her ult and just burn her down. but if you are only slightly ahead she will kill you. hell she will 2 v 1 in that thing.
its a piss poor design on the ult and the E. the E is dodgeable but super annoying to deal with unlike any other debuff. and the ult is just a free "get away from me button". she can slam her ult you have to back off and she runs away.
she has her weaknesses though, unless someone is locked down the best she is gonna do in a team fight is zone really hard. as most people have learned by now to just run away from her.
i think as a melee champ you have to be quite skilled and rely on your ability to not only bait her but dodge her abilities as well as only trade when her E is down. if you try to trade when its up she pulls your spirit and you lose the trade.
its a nightmare to deal with.
she's beatable, but way overbuffed to make up for her awful kit design.