Let's talk about Runeglaive Ezreal
Is it worse than it was? Unquestionably yes. Is it because it deals less damage than before? Unquestionably no.
Runeglaive still procs its damage on Ezreal's Q. The spell's damage components won't be entirely magic as it was with on-release Runeglaive (henceforth RG-5.12), but the Runeglaive's damage itself will still be magic. Why? Let's break down the RG-5.14 patch (which was hailed as the death of RG Ez), and why it hasn't killed him entirely.
On patch 5.14, Runeglaive was slightly nerfed in one aspect and bug fixed in another. First and foremost, the magic damage splash on lane creeps and enemy champions was taken off---this was supposedly to give RG stronger ties to the jungle than the lane, as RG Ez was quite a dominating pick at the time.
The second part of the "nerf" was actually a bug fix. RG was converting basic attacks to read in the engine as spell damage, which then proc'd things like Luden's Echo. This was also the case for Ez's Q (it was proc'ing Luden's whenever RG proc'd). After 5.14, his Q stopped working with Luden's, and the splash from RG didn't apply to lane creeps. What did this mean for RG Ez?
It took him out of competitive play, that's for sure. It also solidified his old identity of a poke mage, as opposed to the poke + wave clear + all-in burst mage that he was with RG-5.12. Post-RG-5.14 Ez plays a lot like AP Ez would; it's essentially AP Ez, but cheaper to build at the cost of one Summoner Spell. The overall damage of his Q was completely unaffected by the changes---rather, only the damage components of his Q were shifted around and split up. Besides that, it doesn't proc Luden's anymore, which it was never supposed to. After the other changes to Luden's, you shouldn't be buying it on Ezreal anyway, regardless of AP or RG.
RG-5.12 Ez was so dominating because of the free wave clear the Runeglaive provided + it's cheaper than Lich Bane (ie you power spike much sooner than standard AP Ez would) + you get additional neutral monster secure potential, all while retaining AP Ezreal's poke-burst pattern. Essentially, RG-05.12 erased most of Ezreal's weaknesses.
So is RG Ez still good? Only good enough. Good enough to be played every now and then, and when the comp would fit him (or rather, when he would fit the comp). Again, it's identical to standard AP Ez except for that a) you power spike much sooner, but b) you're missing a combat Summoner Spell. If you see a RG Ez in your Gold game or whatever it may be, don't flame him, don't troll him, don't intentionally feed and afk because you think RG Ez got "gutted" or "nerfed to the ground" or "isn't viable anymore". I've had all these things happen to me, I've heard all these things said about RG Ez, largely because Riot didn't do a great job of explaining exactly how the RG-5.14 changes affected Ezreal in particular (and let's be honest, the change was solely targeting RG Ez).
This has been a PSA. RG Ezreal isn't OP anymore, but it's not bad, either.