The new Karma is significantly better than the old one in terms of balance. They keep randomly buffing her so she will probably end up like the current Ziggs did at some point.
The old Karma was really unique and they took pretty much all of it away which a ton of people hated. 1 or 2 things could have happened with Karma.
1) She could have been left alone, but nerver buffed and would have gotten gutted to hell and back if she ever became good. Her old kit was a disaster when it came to balance. Other champions in this situation right now are Poppy, Warwick (I'm really worried about him since he is seeing competitive play), Rengar, and Shaco.
2) Reworked
Reworks can turn out for the worst and end up being a lose - lose, but Karma is actually far better (healthy balance) with her new kit than she was with her old one.