I think Riot needs to take a look at Phage movespeed
This item is literally taken on 90% of meta top laners and gives 60 flat MS for just attacking an enemy champion or killing a minion. This wouldn't be much of a problem if it wasn't so easily abused and used as a large zoning tool but also a stick to your opponent and escape tool.
Maybe change Phage to a 3 second buff of 45 MS when hitting a champion and give it a passive 15 MS on the item itself, but make it so it goes on a 20 second cooldown after being proc'd. I can guarantee you the armor pen is definitely not the main problem of this item, it's just how easy it is to apply the armor pen because of the amount of MS it gives for you to stick on your target.
This item is literally just being abused by everyone, especially Fiora and Pantheon because they'll auto a minion and charge at you and poke you and then peel off because they still have a 60 MS buff because they hit you.
Yeah I know it's not perfect, but just an idea rather. I don't like seeing this being taken on everyone and their mother.