Is this still good?

It was recently changed. It now sometimes sees competitive play because it pushes a lane and adds the +magic resist aura. It is amazing on aram from obvious reasons and a valid support item in normal games. Underlooked but good.

Yes, but it's a situational item. I like picking it up as support when the opposing team chooses an AP top laner. It's probably the most annoying thing you can do to them since their jungle or adc won't be in the area to quickly deal with it.