Frost Queen's Claim and Game Timing, a discussion about fixing AP itemization
RIOTers usually say to keep it short and sweet so here is the simple summation of my thinking. Because mages often have power spikes in the mid game (especially assassins, though a number other mages' impacts are highest between lvl's 6 and 11 when both their damage and utility is at its relative highest point) and tend to get outscaled by the multiplicative scaling of ADC's in the late game, the across the board increase in costs of AP items coupled with decreased costs for AD items has made mages significantly less relevant to the game. Because mage damage is less relevant, mage utility has become more relevant (not inherently a bad thing). Furthermore, the speed with which mages achieve a power spike is more relevant than the size of that power spike because they will be outscaled quickly. These two factors have combined to make FCQ the best option. The nerf to FCQ hurts the supports who rely on its mana generation the most without changing these two factors and will ultimately be both insufficient to make it not the dominant choice for mid lane mages and damaging enough to mage supports to hurt their viability.
This is my theory and it fits well with my experience so far (faster game pacing, more ADC's in every position, feeling generally weak on mages, etc.). Feel free to disagree with me, share your experiences and thoughts, etc. but please keep it civil. If any RIOTers happen across this post and have any data they can share which supports or refutes my hypothesis please share it, I would love to know more.