Dangers of removing power management ic chip

Evening all!

A good year ago now, my Xbox one controller had the (seemingly fairly common) problem of getting ridiculously hot after being on for a minute or two, and then disconnecting. I traced the problem to a faulty power management IC, but (perhaps foolishly) didn't have the time to wait and order a new one, and also don't know where my soldering iron is ? so I literally chopped the faulty chip off with some snips (I know)

Since doing this the controller has been working flawlessly and I haven't given it much thought, but I was just wondering if there is any risks with doing this and continuing using the controller?

I've read what the functions of the chip are, and it almost seems like it shouldn't work without it… but a year later and still going strong.

Any info appreciated!!

TIA