There are plenty of bad AWPers peeking too slow, not holding the right angles, low reaction speed, not expecting enemy pushes, not moving enough, not flicking well enough, not going for quickscopes, getting tunnel vision etc.
Once you learn these things you're a good AWPer. Until then buying the AWP is just a waste of money. That's the same for any weapon, but since the other weapons are cheaper it's not as high risk to buy it.
There's a new gen of AWPers emerging like ZywOo, hallzerk and sometimes also s1mple, being more aggressive and using the weapon to its full potential. It's not unbalanced, but people just need to get used to that playstyle. That playstyle is based on the enemy not expecting your push so it's easy to counter it by keeping your head cool and being prepared for the pushes, holding straight angles etc, but most people just get mad when someone pushes a smoke with an AWP or preaim common positions.
To counter a good AWP: Don't peek them unless you have a chance of being faster than them. Play off-angles rather than holding common corners. Example maybe don't hold Mirage short from the ladder room, it's an easy kill from chair. Instead maybe hold further back, or put a one-way in window. Or instead of holding the regular angle from Cache quad to main, maybe play on the little ledge in NBK or on site, maybe even from fork or heaven.
Just give it a few more months and the AWP will be perfectly balanced when people learn how to counter it.