I can think of a few reasons, especially early (his ganks get better at 6 but still not THAT great)
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Yi brings consistent damage rather than burst, so he has less chance to secure the kill than say a Khazix who can Leap/voidspike/AA>Q dead a squishy.
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No CC, especially without redbuff your ally laner you are ganking for needs to help lock down the gank target.
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Gets shutdown easily by good peel, for example if a
saves her bubble for after you Q to gapclose (bonus points if she stuns you under turret) you are probably gonna die if the enemy laner knows what theyre doing. Once yi gets
>
this isn't nearly as bad but that is most likely a 4th item (including boots).
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Yi is very item dependent, as with any hyper-carry champ his damage scales far better from items than base levels and your damage is going to be very subpar until at least Bloodrazor enchant.
Edit: But these factors also allow a yi with a team that understands Yi to do very well in mid-late game. If Yi's team initiates for him, forces the enemy team to blow their hard CC abilities, yi can ult>Q into the chaos to kill a squishy/extend the ult duration, get Q/E Cooldown resets, use
to escape any CC that the enemy saved for him, W also helps to stay alive/sustain, and keep pumping out his high sustained damage.