When will Teemo get a buff?
Before anyone says to me "OMG I hate Teemo HATE HATE HATE" let's be honest here - when was the last time that Teemo has ever been first pick/ban? Oh that's right, never. He may annoy some players, but not annoying to the point where he is highly picked and banned, because the truth is, he has almost never been worth a ban slot. Why? Because he is too weak of a champion.
The same cannot be said about most other melee top laners though, including Riven, Jax, Gnar, Nidalee, Rengar, Irelia, etc. Those champions have been massive threats in the past; Teemo has never been.
So yes, I personally think he is too weak. He does well only against a very specific subset of champions (kitable, auto-attack dependent melees), which are a) not very common, and b) even if he does theoretically counter them, a simple gank or an all-in will murder Teemo almost instantly, because he's too squishy. That's why he is a pretty risky pick in the top lane (and hence, not commonly played), because at higher levels of play, a pre-level 6 gank is enough to force him out of lane, whether the opponent is melee or ranged.
So now we established that he does between okay to pretty-well against kitable melee champions, what about the other ones? Pretty terribly. He struggles against assassins with gap closers (since he is squishy with no reliable escapes), and he has one of the worst ranges for an AP mage. Anyone who out-range Teemo can wreck him because he doesn't gain MR per level (nor do any of his core items give him MR) and his range is abysmal. Like, even worse than Vayne's.
So to sum it up, Teemo is a squishy auto-attack reliant champion that does okay to great against kitable auto-attack reliant melee champions, but does very terribly against assassins and mages. This means that most of his matchups are bad and shrooms are not enough to make up for his weakness. People complain about how annoying he is without realizing that 8/10 times you are able to wreck him in lane.