I like the new fizz, it is so laughably bad for AP that I want them to put it live so they can see how horrible they are at balancing and knowing how fizz works. He will only be viable as a tank build now. There is no way AP fizz will work late game when ADC 2 - 3 shots you within .5 seconds and now ADS in general will abuse the new AD Zhonya item to spell block Fizz's shark all day. Current Fizz does MORE damage with current W than the W on PBE. Remember, Q used to apply W's active, now it does not (won't be active unless you don't want the bonus damage on proc) so fizz Q + 2 autos ON LIVE = W active AFTER 2 seconds on PBE. Oh, and the live version gets that off before 2 seconds. Second, you lost damage from shark. Only bads get hit from max range shark in a team fight setting unless they are the tank. Everyone knows you have to Q to target and throw shark or it won't hit as everyone and their grandma will just step side it or use a mobility tool. Third, you lost damage from E and Q because shark doesn't give 20% ratio anymore, which means you lost even MORE damage from W and his dot is weaker.
Fizz AP ratios on LIVE
Q (.35 (also applies .3 active from W and .45 dot from W passive))
W (.45 dot, .30 active per auto)
E (.75)
R (1)
20% damage amp to all ratios except R (so multiply Q, W, E above by an additional 20%)
New Fizz on PBE
Q (.35, applies .30 W dot to all targets hit by Q)
W (.30 dot, .3 active for ONE auto. If you save it, does .9 after 2 seconds)
E (.75)
R (.5 - 1 AP + (.3 W dot but remember they don't stack if you hit shark and Q)
No damage amp.
Fizz does significantly more damage on live, in less time, then current fizz with ratios. He is also not dependent on sitting in melee for 2 seconds to do his damage and is not dependent on hitting a very slow moving shark at max range.
HOWEVER, they buffed his base damages in replacement for removing the 20% amp and buffing base damages is good for.... wait for it... AD TANK FIZZ!!!!!!!!!!!!!!!!!!!!!! Which is what Riot was trying to kill in the first place!!!!! And now needing to live in a team fight for more than 2 seconds.... TANK FIZZ!!! In moving their bases around, they ultimately kept his base damage the same as it is on live damage wise.
With current numbers, AP itemization and how other champions work (adcs kill fizz in .5 seconds late) I will be surprised if he ever attains above a 30% win rate going AP. W would need to basically 1 shot an ADC 100 - 0 if the kit is going to work for AP with the extreme lack of tools the champion has.
BTW: The below is my favorite and will have me laughing the entire way as I uninstall league, having mained fizz from when he first came out in S2 until the day assassin update comes out. Riot posted what they wanted to do with fizz and then less than a week after posting it, this is what they do.
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Riot wanted to improve his laning phase by ... nerfing it??
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Riot wanted to move damage from his E to elsewhere on the kit by... not moving it????
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Riot wanted to showcase fizz's initiation power by.... nerfing his initiation and only making the shark slightly stronger if he hits the mythical max range shark on carry while nerfing the rest of the follow up damage????
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Riot wanted to make Fizz the hardest to peel assassin above all other assassins by... doing absolutely nothing to his average in class mobility while nerfing the R slow unless max range???????
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Riot wanted to make fizz play with his food by ..... having him just stand in melee poking with base damage autos for 2 seconds until he can do the same damage as what he does on live in that same time period?????????????????
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Riot wanted to make assassins less feast and famine (more useful when behind) by...... requiring a behind in gold fizz to live in melee for 2 full seconds to do overall less damage then on live and when people engage on him that his shark slows less and does half the damage??????????????
I don't think riot even knows what they are talking about and what they are doing when they say things like this and do the exact opposite. It proves horrific ignorance to how the champion works and plays and is how they are going to and are losing a lot of players. I mean how can you actually nerf the laning phase (which is something Riot said that in PARTICULAR they wanted to buff when he's behind) by having a flat 40 mana cost for W to clear one wave and being so shortsighted to actually have the base numbers take 45 - 105 mana for just half the wave. Funny thing is the mana cost on W isn't even the problem, it's being in a ranged lane and having no tools besides a super high CD/mana cost E to avoid the constant spell poke from opponents (his craptastic passive which reduces auto attack damage doesn't even work on the spells they are flinging out, it's made for top lane (so he can ghost in between minions to poke and take reduced autos in trades), NOT mid lane). So bad it's comical :).