The buffs are only aimed at his lategame while leaving the handicaps untouched which made him unviable in the first place. These changes won't alter his status as the weakest tank in the game at all.
He has no waveclear, he lacks damage, his sustain is subpar and he has wasted ap-ratios which only weaken his overall potential even more. His kit is definitely the main issue here since he remains pretty much useless once his E and R on cooldown. Also he's still unable to win the lanephase thus leaving him at an extreme disadvantage in terms of gold since he'll be pushed back to his own tower nonstop.
Any fight automatically becomes a 4v5 once Shen has blown his two main abilities. His movespeed is still pathetically low for a melee-champion (335), he's simply too sluggish and can't stick to his targets with that. And don't get me started on hitting his Shadow Dash, the hitbox for that thing is still incredibly narrow thus making it extremely unreliable. There's absolutely no reason for the enemy team to take him serious, they'll simply ignore him while you watch as your carries get slaughtered.
Shen needs a rework, period. This point cannot be debated.