Yep. It's early sucks dick, going the build CertainlyT and the rest of Riot wants you to build makes it to where you're useless late game due to Hybrid damage (Literally, they made him magic damage and want him to build AD/Tank, so he can't even put to use a damn Cleaver like a normal AD Fighter), and his mid game is easily shut down before he even gets there by simply having a knock back. Morde needs to WALK to his target. Walk to them. No gap closer or CC, so he has to chase them. If the enemies get an Alistar, Syndra, Xin, or an Anivia (Wall of super denial), the Morde is completely screwed. You can still screw him with normal stuff like slows since he's stupid easy to kite, thus needing his team to do ANYTHING and your only damaging ability is your Q since the E's scaling is iffy at best as the build they want you to go unless you get plenty of AD, but their build says tanky AD. They want a TANK. Like, their recommended items that they're balancing around is Ninja Tabi, Trinity Force, Rylai's, Gunblade, Spirit Visage, and another tanky item. It's... It does a lot of damage, but at the same time, it... it just doesn't scale to late due to being hybrid/tanky. The Q will do around 1kish in total, but you only attack at about 1 per sec, so it takes 3s to do 1k damage and your opponent has to stand still for that ENTIRE time, so it could take upwards of 4-5s to get it off on a moving target.
His kit is scaled so nearly all of his power in his Q. His E is just for shields and the slow with Rylai's, possible for use in farming early on if you're being zoned (Which is common since he's melee with 325 movement speed) and his bases are HORRIBLE, so he doesn't do anything early on.