The only junglers that I would find acceptable smiteless are Cho'gath (because at 6, he can out-nuke smite against Dragon/buffs, but he'd still have a bad time early, especially if the enemy catches on and counterjungles him),
and Nunu, because Nunu is awesome regardless of what he takes.

But junglers should definitely take smite.

if he took ghost+exhaust or ghost+ignite you could be a decent mid and still leash for him and let him try to help him out early game and enjoy the extra late game utility and damage. Or you can all continue being toxic ****s and ruining the game.

Attempt to carry him and play the game out, because if your elo is that bad that you get such an olaf on your team, enemy team will not be MLG pros

Heavy leash the first buff and play as normal. Be thankful that when he comes to gank he has any 2 of exhaust/ghost/ignite

Losing dragon because we have no Smite is so ****ing stupid.

Wait, what? The only junglers that (stupid) people can make an argument for not needing smite are Cho and Nunu. And even then, they're wrong.

Tell him to learn how to use his summoner spells effectively then dodge.