Quote from Kazimir_SanGreater rift progression is a great gauge of how balanced your class is when comparing to others. Current leaderboards send a clear message.
As for me, I'm very happy that I can use my holy monk and not feel like an outcast, although I'm a bit concerned that the only way to perform well is the Flying Dragon. People will get tired of it soon enough.
It's not the only viable option for monk thou. It's good, but there are other ways to deal damage with good 2handers. Flying dragon uptime is too low to make it BIS. It's very powerful, I agree (as I'm using it myself) that until people find some viable WoL builds this is the cheapest and easiest way to farm.
But, as some people stated in this forum, with The Flow of Eternity you can hit 2second downtime on Seven Strikes (and remember that when using SSS you are quite immortal) adding this to Madstone - physic monk can be quite effective (as physic EP gives you 20% more dmg on targets and physic SSS shorten the Cooldown to 14 seconds). Add the 3 part of sunwoko's to do 3500% dmg and 20% more dmg with Daibo, Smite Gem, The physic bleeding gem and Zei's stone (I hope it will work on the SSS per each kick).
Flying is cheap, that's why it's good, but really powerful builds cannot depend on quite low 'chance' to double attack speed. They have to be viable regardless of luck.