Why is this item still in the game?

Stopwatch, this item has been ruling the game since it came out. A free at 6 minutes or for 600 gold. I personally think it's ruining the game as 4 out of 5 champs usually run it in games. When competitive teams all run one item, you know that it is taking over the game. Besides, the game shouldn't have a safety net for players who make mistakes early on, it's what the game is about. 6 minutes is when champs are level 5-6 and have all in potential, but this item in a sense ruins that early lead potential.