I don't know what game you're playing, but I'm playing the game right now on 2.0 and I am indeed playing as a stealth netrunner. It is going very well, although it does require more perk investment as well as more thought behind every encoutner.
There are ways to slow down the trace, and ways to accelerate how quickly you can do quickhacks. If you commit to being a stealth netrunner, you will absolutely be able to be just as OP as before.
It does require overclock, but that just makes sense with the world of Cyberpunk, and makes it a lot more fun. Who cares about the health you're losing too, because if you're doing it well the encounter should be over quickly enough and health regenerates stupidly fast outside of combat. There are also quickhacks that usually won't lead to a trace, like distract enemies and overload. Use the environment to your advantage.
The tracing mechanic still makes sense btw. It doesn't matter that the enemies are far away from each other, they are on the same network. This is obvious thanks to the fact that the PING quickhack shows every enemy, and the goal of the quickhack is to reveal everything on the network. There's also a gig where you disable someone's cyberware by plugging into one of their crew. If you send a hack through the network, it just makes sense that others on the very same network would be aware of it. You'll notice that things that don't appear when you use PING, such as fuel tanks, do not lead to a trace when they are hacked.