I disagree, I mean I think set one was way more fleshed out, more fun and generally better in quite a few ways... Zyra really isn't that strong, she needs alot of mana items or ocean's feeding her mana otherwise her plant generation is garbage. Olaf can be countered with proper placement/items, you can stop them from 2/3 staring by just simply buying him yourself. Poison/predator tends to really hurt olaf's game play, I mean yeah those times hes at 5% health and then ults, healing back up to 40-50% it hurts but Ive only seen it happen a couple of times... He usually dies before he gets going and even the people I see abusing him (double rageblade/blood thirster), while very frustrating, don't always win... Renekton yeah hes pretty broken for sure and they definitely need to tune tibbers HP.
Really and truly they just need to buff some of the other carries, there's not that many strong carries... It's easier to get a really nice defensive composition and guard your twitch as opposed to having full out damage... Have you tried weaving in some assassins? like 2 steel bonus and using nocturne/kha and tossing in either woodland + leblanc or using qiyana and following whatever element she gets?? Also, i'm pretty sure desert/berserkers will shut down any olaf team composition HARD, toss the disarm item on your sivir, stack your khazix, tank renekton and snag atleast 3 berserkers, preferably 6, their whole team will melt...
EDIT: Also, singed will shut down olaf HARD, especially if you have 3 poisons... Singed will never stop running and olaf wil only move one square at a time trying to attack, if its olaf vs singed as last units, olaf won't beable to sustain before he just dies to the poison trail... If you toss on a morlo or turn him into inferno so his trail leaves fire in its wake, GG... Turned him into inferno for 6p bonus once and even at lvl 1 was topping the damage meter...