Did Spell binder fail as a new item and its goal of bringing mages bot?

Currently, to my knowledge, no mage building as a first item bot. With the current mana changes, no mage can afford to build this as a first item as they will run out of mana quick. It also offers no CDR making hard to pickup as a first item when compared to

Secondly, the only reason to buy this item is primarily the movespeed stat and not its active. The 120 Ap is nice but the main thing here is the 10% movespeed. The active is more of an after thought because you can't reliably depend on its effects in a fight.

The strength of the active can vary from 0% -100% with only a 4 second window. Whenever I use the active at 100% stacks, I feel like I'm in a hurry to make use of it or else it would be wasted. This sometimes leads to me making rash decisions I would not normally make. Other times I use the active at 100 stacks and completely miss my skill shots, then feel really disappointed because it took so long to get those stacks. Other times I could use it at 20 stacks, and its strength is negligible.

Overall, the active gives too much mixed results and can be unpredictable for its user.

And the final thing about this item is it does nothing else but give more stats. With the item fully active, you get

200ap 10% movespeed 50% decaying movespeed.

Dont get me wrong, those are powerfull stats, but just stats along is boring. There is no unique passive like 15% ap on hit or mana shield or reduced damage.... nothing, just pure stats.

IMO, pure stats leads to an incredibly dull item like .

I'm hoping to have an informative discussion about this item and why you like or dislike it... thanks