It is extremely powerful and meant to be so. Cataract is the map where I see this the most. However, you can easily counter it by getting the portals back and locking them for one thing. The other thing you can do is do the same thing to them.
At some point, the game has to end. Without giants and catapults it would drag on too long.
The problem is when your team mates just don't understand the importance of this and ignore portal control. If you are one guy trying to secure 2 portals against 2 foes that are splitting their efforts and your team mate is off farming creeps like a dork or taking down some non critical structure at the moment, you will pull your hair out.
If I am securing one or more portals as Oak, I usually tell my team mate to go ninja theirs, to pull some heat off. However, a lot of people just dumb and think they can somehow overcome the creep waves even though at that point they can't.
So yeah, portal control late game is key, as it should be.