On paper, he looks pretty bad. People try to downplay how shit he is, but you have to ask yourself: What tools does he really have?
With the nerf to 1,1, his plus on block pressure is effectively shit against anybody with a 6 frame poke or mid-hitting special. The only real plus frames he gets anymore come from Energy Wave, and the enornous gap makes that risky to the point of unviability to use as anything other than occasionally.
With the exception of PU's GG (which is still -9 on block), he has terrible armor options. bf4 used to be a risky gimmick Jax would throw out to catch people neutral ducking, and that move still whiffed on good reads. dbf1 has absolutely no range.
He has gaps all over the place and does some of the lowest midscreen meterless damage in the game. His corner damage is nothing special anymore after all the accumulated nerfs he has received, and armor breaking with 1,2 or d3 ex-gotcha is no longer a thing.
He has a six frame stand 1 and a relatively fast 50/50 out of his 1,2 string (gap between 123 and any special over 9 frames, by the way). F2,1 is a decent advancing mid, but as mentioned earlier, due to buffs to the rest of the cast +1 doesn't mean so much to him.
Without a reliable mid hitting special attack to end combos or stuff pokes with (now that ex-bf2d no longer has armor) he is even more free to low profiling than ever before, which is saying something because that was already his primary weakness.
For the sake of transparency, I will admit that that this is all based on what I see on paper, and my knowledge of Jax's attacks. I haven't so much as entered practice mode in MKX since well over a month before the 10/24 patch, so if I am wrong, I am wrong. My contention is simply that he has far fewer and much riskier tools than almost all of the other characters.