What can we do about Frozen Mallet?

So this is supposed to be an item that... makes melees harder to kite? Or escape from? Usually the only champions that buy this are champions that can apply it from range. Historically used by Gnar and Yasuo (Q applies on-hit effects), and sometimes Kog'Maw or Shyvana. This item can be very oppressive, since basic attacks generally can't be dodged and having the slow applied once means you'll never get it off of you unless you're able to dash out of range. If you don't have a dash, you're forced to fight back or Flash away. Not to mention being slowed makes it easier for the same enemy to hit you with skillshots.

I think there are a few different ways this item can be changed to be made more viable, and add some degree of counterplay.

1. Make the passive 2-hit. "Enemies attacked twice within 2 seconds are slowed, attacking slowed enemies refreshes the duration." This means that the passive isn't "get touched once and you will die." Downside of this approach is that it kind of sucks for champions with low attack speed. Compensate for this nerf with a stronger or longer slow, or better stats on the item.

2. Give Mallet a ranged active (in addition to the passive). "Active: The nearest enemy champion is slowed for one second. 500 range, 45s cooldown." This makes the item as good on melee champions as it inherently is on ranged champions, bringing some equity between ranged and melee users. Compensate for this buff with a weaker or shorter on-hit slow.

3. Put Phage in the recipe, and change the passive accordingly. "Attacking enemies steals X movement speed for 1 second." We would make the slow weaker and give a small amount of movement speed to the attacker for the same duration. This makes the permaslow weaker and less oppressive, but makes the item better for sticking to enemies.

Let's talk about the stat spread: a lousy 30 AD and a massive 700 health. This is kind of terrible, intentionally so that if you buy this item you deal less damage than if you bought any other AD item. Riot doesn't want to encourage ADCs to build this; Ashe has the same effect on her passive but to balance it she has abysmal mobility. Someone like Lucian (mobile) or Kog'Maw (long range attacks) would really abuse this slow effect if the stats and recipe of Mallet were better. Ezreal uses Iceborn Gauntlet to a similar effect, but that comes with the downside that it doesn't give nearly as much damage as Trinity Force or other items - Ezreal has to choose between utility and damage. I don't expect Frozen Mallet's stats or recipe to be buffed at all until the on-hit slow is nerfed in some way, because the way it is now, it's one of the most deceptively powerful item passives in the game.