iHulk is a badly designed champion and should be 'rebalanced' at some point
Firstly, yes there are many champs who should be 'rebalanced' before him (whatever that means nowadays as it seems to be changing every 2 months) but look at this from a neutral POV.
The novelty of his gameplay is so underutilized, it's frustrating. Doing damage to yourself while dealing damage is a cool idea, but the trade-off for high damage (which isn't even that high for how long it lasts) should EITHER BE dying as you're almost always at 1% hp OR losing the damage if you're not aggressive enough. Why is it both? 3 points to break it down.
1. His mechanics (aside from the suppression and stun at sp2) do NOT facilitate his aggressive gameplay style. At the VERY least he deserves an infuriate. On top of that, a medium into a blocking opponent should also refresh rage stacks. Currently, his suppression can't even counter most mystics that have passive power gain and he's a science champ.
2. His mechanics also do not facilitate his 'immortality' gameplay. He can easily be heal blocked, his immortality can be shut off via assassins mastery/ability accuracy (rendering him quite risky as an attacker in AW mind you), and he has a 50 SECOND immortality CD. Again, at the VERY LEAST, don't allow his immortality to be bypassed by ability accuracy.
3. Currently, iHulk can be utterly countered by: Healblock, stun/debuff immunity, limber, defensive AI, power gain, physical resistance, unstoppable, unblockable, autoblock, evade, miss, disorient, all DOT except poison, etc. And these are just nodes, there are champs he simply does not have the kit to counter himself. And no, not counter as in "ooh maybe not too good in these cases", I mean borderline useless. As in you are required NOT TO play him the way he's supposed to be played (which is the frustrating part) and it is near impossible to ever reach half the maximum damage you could potentially reach for even a second most the time.
And even THAT would be all OK if the matches he WAS good for, he was insanely good. But even those matches are RNG-dependent if you want any good damage. An AI holds block each time you reach 2 rage stacks in his perfect matchup? Unless you hit immortality early, the most you're gonna build to is about 10 rage stacks if you manage to pull off the sp2 cycle (2 mediums into SP2, heavy, and 2 more mediums). At 10 rage stacks, you're hitting for less than champions that do not require you to lose most your health to pull off that damage.
A good example of all the above is CGR. CGR is borderline trash if the opponent is constantly nullifying your buffs/is armor break immune, but at least in the matches he's good for, his damage is amazing and most importantly, CONSISTENT. iHulk should have a similar gameplay style.
Thanks for coming to my ted talk.