want penta or godlike? here you are!

I think a lot of the hate was due to him being able to 100-0 squishy targets in the mid-game and on.

A lot of that hate should be mitigated by his nerf, IMO, because he has to wait. It's much less frustrating to die when you had 1/2 health, vs. having full health, feeling like you were okay, and then dying anyway. But that brings about your question...is there a point in playing him?

Well, I wouldn't suggest building him as this build suggests. There are some major flaws in the build, one of which is building only one crit item, which makes it very unreliable (another is building crit on him in the first place). Atalanta's is probably something I'd never consider either.

However, I honestly think a minor shift in his meta build (power + CDR + pen) might be wise. I need to see how things shift as S6 commences, but I can see building some select items on him that will help his mobility and/or basic attack function. He'll still want to attack cancel when possible, as that will maximize his damage potential, so getting items like Stone Cutting Sword might help (while also providing him with some protections). I see maybe also getting less CDR (10-30% instead of 30-40%) to free up more spaces for something else (like protections so he can stay in a fight longer). That might even mean using bruiser items like Ancile and Shifter's Shield (but probably not Void Shield due to the aura popping up when he is invisible). That will further reduce his damage potential, so he'll want items that provide both power and prots to keep his ability scaling up.

In essence, though, the major portion of his burst potential is the nerf, as his first attack progression goes down from 1 to 0.75. He relied a LOT on that first basic for attack canceling, and for the boosted Hydra's Lament proc. Even Hydra's proc gets nerfed by this, which is bad news for Loki.

The Vanish 25% mitigation also goes away, and while that's less significant than his attack nerf, it still potentially hurts, at least when he's using it as an escape rather than to initiate a surprise attack.

You might still see "Loki mains" playing him, but they'll probably be quite a bit more frustrated, leaving the only players as those with higher skill that can still make him work situationally. He should still be a reasonably popular pick in teamfight modes, but Conquest should see a drop in his pick rate.

For me it doesn't even need answers it's clearly a troll build

Yes, it's a possibility.

lowkey8, just an FYI, as Gary says, Loki is an ability-based god, and you're building him for basic attack function. Not that you can't find success with this in casuals (especially low-level), but one major indication that this build doesn't have strong build/mechanics knowledge is the fact there's crit in the build, and only 1 at that. For crit to be worthwhile in general, you need closer to 50% crit chance in order to make it somewhat reliable.

As an additional point, the upcoming S6 6.1 patch is seeing a nerf to Loki, where his first basic attack is getting an attack modifier of 0.75 instead of 1, which significantly nerfs his damage potential, especially when attack canceling between ability use.

In conclusion, due to the focus on basic attacks and the presence of 1 crit item, this build as-is will be considered for archive.