Unpopular opinion: why flat mana is better for mages than mana regen
Disclaimer: this will be a long post, full of numbers.
I want to try and convince everyone that cries about the loss of mana regen that they are wrong. Here's why: First, I'm gonna bring the math for the time between 4-6, lasting 5 minutes. This aims to cover the time where you have to sustain with component items. If you want the calculations with the complete items, too, you can ask it. Also, I did not count Doran's Ring, but know that it sinergizes better with the new items than the Chalice. Level 4-5-6: old Chalice of Harmony vs new Catalyst of Aeons or Lost Chapter or new Tear of the Goddess. Average mana: 600-660-720 Average mana regen: 9.2-10-10.8
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The Chalice of Harmony gives 50% base mana regen and 2% of missing mana per 5s. Average mana regen during the session is 10, so that means an extra 5. Also, Chalice's passive will give an average of 0 to 13.2 extra regen, which means an average of 6.6. So we can say that Chalice of Harmony gives an average of 11.6 mana regen during this session. This means that in 5 minutes you will gain on average up to 696 mana (only if you are constantly under 100% mana)
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Meditation is the only mastery that helps with mana, and scales with maximum mana, so this means that only the new items will benefit from it, increasing mana regen by 0 to 1.5% max mana, with an average of 0.75%.
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Catalyst of Aeons gives 300 mana, with a passive hard to calculate. 15% of damage from champions will be gained as mana. During this session mages have an average of 900 health, 1125 with the Catalyst. Depending on matchup and many variables, between levels 4-7 you can lose 0-150% of your health, with an average of 75%. So you will gain an average of 127 extra mana. And then there is Meditation, that gives an average of 135 mana over 5 minutes. This means that for the this "lane session" you have an average of 562 mana from Catalyst of Aeons. This is pretty much impossible to calculate correctly, so this number can vary.
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Lost Chapter gives 250 mana, with a passive that gives 20% max mana while levelling. This means that for the next three levels you will gain a total of 20% max mana three times. Counting 250 from itself, Lost Chapter will give an average total of 396 bonus mana during the session. And then there is Meditation, that gives an average of 113 mana over 5 minutes. This means that for the this "lane session" you have an average of 759 mana from Lost Chapter.
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Tear of the Goddess gives 250 mana, and you gain 1 or 5 or 9 mana every 8 seconds, depending on spell spamming, so I will put an average of 5 mana every 8 seconds. This means that in 5 minutes you gain 188 extra max mana. Also, new Tear grants you 25% refund on mana spent. This pretty much means that your mana pool is increased by 25%, for an average of extra 275 mana. And then there is Meditation, that gives an average of 197 mana over 5 minutes. This means that for the this "lane session" you have an average of 910 mana from Tear of the Goddess.
Tl;dr: So in the end this means that between first and second recall, ideally and on average you would have 696 extra mana with Chalice, 562 with Catalyst, 759 with the Chapter and 910 with the Tear. As you can see, Chalice is not that good. More mana regen doesn't mean infinite mana. You always have to take into account the time needed to recharge. At the end, total mana is what matters. It's the same principle of potions, that can be seen as extra health. Also, having a wider mana pool is better, because you can cast more spells quickly. Of course, if we talk about long sieges, then yes, it's a nerf. But that's the aim of the rework. It won't change the laning phase, because you will recall after 5 minutes anyway, it's not going to shorten. You will have even more mana, instead, because as you saw only the Catalyst is worse, and only because it has a passive hard to calculate. And, as I said, I did not count Doran's Ring, but know that it sinergizes better with the new items than the Chalice.