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Teammates who don't peel = big problem
Glass cannon build = viable assuming you don't get focused too hard
Usually will be some enemies chasing you. If positioned well you should have a lot of your teammates in front of you so that if someone like a tanky dps dives at you someone with CC can peel for you (Support Alistar is a great example of this!).
You still do all 100% of your damage while being glass cannon.
In solo queue noone peels so tanky dps are pubstompers. Also this does not mean tanky dps can't be overpowered- for example look at pre-nerf Irelia who was virtually resistant to CC.