I don't really like where it is. I liked last season better, to be honest, and a lot of people who have been playing longer than me say Season 5 was garbage. I don't know what to make of that, but Season 6 has a lot of issues with it.
For one, AD is too strong. They have too many options. They have Tank Buster items, they have mini Zed ults in an item, they have mercurial scimitar and maw of malamortius for dealing with different flavors of mages, they have good lifesteal and crit options... the list goes on. Meanwhile, AP is getting shat on this time around, because they have a grand total of 3 defensive options, Athene's Unholy Grail, Abyssal Scepter, and Zhonia's hourglass. Only one of which is effective against AD, and that particular one is expensive as shit. I mean, you can go RoA, and it is a good option, but with AD being so versatile and assassins getting a buff through Duskblade, it's hard for AP mages to compete anymore. Not to mention that some assassins like Talon have one of their power spike items (B.F. Sword) for cheaper. It's just slightly more than Needlessly large rod, and if it came between an AP mage and an AD assassin, if they both bot their damage item at the same time, I'd bet that the Assassin would probably come out on top more often.
Further, I think everyone in this community is tired of Devourer and Rageblade giving everyone overtuned hybrid damage on every autoattack. That is, unless you're currently abusing it. Hell, I think everyone is just tired of seeing feral flare, because it's the same item, more or less. Feral Flare was an abomination on the metagame, and Devourer does a similar thing for the same playstyle: The afk farm jungler. I don't know why Riot wants to encourage this, because it makes for a gameplay style where you win a game of League of Legends by not playing League of Legends, or at least barely doing so, because you just farm the jungle. Yeah, they still gank, but not as often because clearing the jungle gets them closer to that game-breaking sated Devourer. Rageblade is actually alright, but it gets a bad rep by being a sort of partner-in-crime to Devourer; Rageblade was never a problem without any type of Feral Flare item to make it worse.
And tanks were buffed in the juggernaut update, so mages are feeling pretty left out right now. You still have your Katarinas and Leblancs that do pretty well, but, again, ap mages are mostly stifled by this lack of item diversity.
EDIT:
Oh, yeah, I forgot: I hate the new masteries. They seem good in theory if someone would pick more varied masteries. 90% of tanks pick strength of the ages, only really niche champs get windspeeker's blessing, 99% of damage champions pick either Thunderlord's Decree or warlord's bloodlust, and warlord's is quite rare, in my experience. That is, unless you build devourer, in which case you're going to 90% take the fervor one. Barely anyone picks Deatfire Touch, grasp of the undying, or stormraider's surge. Although, I should mention that most tank supports take either bond of stone or strength of the ages. it's a bit more varied but I still think that these masteries are a bit much and don't really encourage as much diversity; I still see way too many all-thunderlord teams.