How is Fizz allowed to exist in his current state?

He is worse than he was pre-rework. Most of the nerfs have been reverted and the buffs have been left untouched. He is still of the highest single target burst champs in the game with stupid low CDs. AP Fizz is still a terror. AD Fizz was popular because of the changes which got reverted because of the problems with them.

An assassin isn't supposed to chain kills with high single target damage without ult. That's not how they were ever designed. Fizz needs his troll pole gutted and trimmed down to pure utility or his ult ratio nerfed. 1:1 in an AoE with a slow and a knock up for a total of 3s of CC is kind of stupid especially with a damage amp tied to it. And the thing is, the second they nerf lich he always gets buffs and he is the 1. abuser of it.

There is literally no counter play to his kit after he hits 6. On target CCs are being removed little by little and he can dodge half of them anyways. AoE CCs are generally wasted on single targets and if he goes in alone he can kill someone Zhonya's to wait for team and troll pole away then come back in 8s (without CDR) to burst someone else.

How to nerf Fizz:

1. Base MS 335 -> 325
2. if Fizz uses trickster the hit box is change to be exactly the size of his character hit box (he has to land on you to use it aggressively making it harder to AoE nuke)
3. His ult's AP ratio lowed from 1.0 -> .8
4. Q CD to 8s at max rank starting at 12s at lvl 1. E CD at 10s at max rank, CD starts at 18s at lvl 1.
5. Seastone trident (W) can now only proc the bonus damage up to 3 times. CD starts once the charges are used up. CD is now 12s.

These changes are all designed to make him less obnoxious as well as a bigger fall off for late game.