Are not in a bad spot. They're in the same spot they were in season 2, 3 and 4. Back then their damage didn't ramp up until late game (4 or 5 items) and then they were pentakill gods, after being a pushover early. They became famine if they fell behind and couldn't afk farm an empty lane.
They're in exact same spot now, they still have massive power late game and will outscale most of the roster.
The issue is the snowball state of the game. Games don't make it to late game, a mid lane Talon/Kat can control the game completely or a top Illaoi/Yorick/Nasus can take 2nd, inhibitor tower and inhibitor while missing 1 dragon fight at 25 minutes.
A good farming crit marksmen in a 45 minute game will still dominate and wipe an enemy team.
Also, new early game build path is B.F. Sword into Zeal. Not outright upgrading into IE. First item blood thirster or death's dance also goes a long way with hurricane.