If only time will tell if it makes the game better or worse, then "broken" is definitely not a proper choice of words.
I've mained Jax and Cage for a long time now and done pretty well without relying on meaty pokes or specials, I just predict whether they're doing a wakeup special or not and act accordingly. I block if they think they will (and if I'm right I get a full combo) and I attack if I think they won't (and they're afraid to so they might not). The only thing this will change for me, as a primarily rushdown player, will be that I'll no longer get hilarious full screen forceballs on Scorpions trying to teleport.
I agree with Tom that this is how the wakeup system was always intended to work.