How about making Lifesteal a Unique passive

It would solve the problem of champions( and others) getting 2-3 life steal items ( ).

You could also better balance by removing the bleed and making it so it can stack with a lifesteal item.

I know it's not going to solve the dmg problem in the game, but it will change the itemization and people would actually have to think about the items they are getting. Do they want a lot of lifesteal and dmg , tank shreding or clear (melee only).

People are still going to buy multiple of them, but it might be good to punish that and not reward people with absurd amount of life gain with aa's.

I think it's a small step, but towards the right direction.