The hat is broken, and I don't mean its OP!

Also we cannot buy Needless large rod either.

actually i think it is working right but the passive is bugged and not is playing the extra amount. IDK though id need to check again when i get home

A member of Riot posted on earlier threads about this saying the tooltip error is just a tooltip error and does not impact gameplay, and this issue will be fixed in the next patch. (Or I'm just insane and thought I read this but I'm fairly confident.)