How would S2 Warmog's Armor work in today's League?

Basically, the titular question.

For those who don't remember (or were not active players back then):

Warmog's Armor

3000 gold

+920 Health +30 Health per 5

Unique passive: Gain a stack per minion or monster kill and 10 stacks per kill or assist. Maximum 100 stacks. Per stack, you gain 4.5 HP and 0.15 Hp5.

The regen translated into modern League would probably be 100% on the base item, with 50% extra attainable by stacks.

I wonder how this version of Warmog's would do in the current game, given that health nowadays has stronger specific counters than back in S2 ( ).

A big advantage of this version of Warmog's would be the passive, which makes its strength scale and prevents one of the issues that the overhauled item had in the early stages of S3, where too much (as in, all) of its power was instantly accessible. Basically, the same thought that is implemented in the gating of 'Mog's current passive.